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USDOLLAR Index Breakout Looking Healthy, but Breather Possible

USDOLLAR Index Breakout Looking Healthy, but Breather Possible

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- EURUSD finds support at late-May low just above $1.0800.

- USDCAD attempting for fresh yearly highs above C$1.3000.

- See the DailyFX economic calendar for Monday, July 20, 2015.

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.

Read more: Euro and Gold Drop To Major Lows, Dollar and Pound Continue to Climb

--- Written by Christopher Vecchio, Currency Strategist

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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