USDOLLAR Index Breakout Looking Healthy, but Breather Possible
- EURUSD finds support at late-May low just above $1.0800.
- USDCAD attempting for fresh yearly highs above C$1.3000.
Market attention is starting to divert itself from Greece and back to two overarching themes: the ECB's QE through September 2016; and the Fed's desire to raise rates in 2015. The familiar situation of falling European sovereign yields, rising European (and global) equity markets, and a depreciating Euro are all back in play today - one which should be fairly quiet given the empty economic docket.
See the above video for technical considerations in EURUSD, AUDUSD, USDCAD, USDJPY, and the USDOLLAR Index.
--- Written by Christopher Vecchio, Currency Strategist
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