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- US Dollar takes out critical volume-based support versus the Euro and British Pound

- Greenback nonetheless continues to hold key levels versus Japanese Yen

- See more information on DailyFX on the Real Volume and Transactions indicators

Receive the Weekly Volume at Price report via PDF via David’s e-mail distribution list.

The US Dollar has broken below critical support versus the Euro and British Pound but continues to hold versus the Yen. Here are the levels to watch next.

EURUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

Data source: FXCM Real Directional Volume Indicator, Chart source: R. Prepared by David Rodriguez

The Euro has traded above critical resistance near the $1.1350 mark, and a hold above resistance-turned-support leaves momentum in place for testing further key levels from $1.15-1.16.

GBPUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The British Pound has traded above key resistance starting at the $1.5650, and said level now marks support. Further volume-based resistance starts at $1.59 and extends through $1.6150.

USDJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The US Dollar continues to trade above critical support versus the Japanese yen, marked by a substantial build in volume in the ¥118-119 range. A near-term break below remains unlikely.

AUDUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The Australian Dollar trades at potentially significant volume-based resistance at about the $0.8100 mark. A previous price ceiling now acts as support near $0.7800, while a move above $0.81 targets further highs.

GBPJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

An impressive rally in the Sterling leaves it significantly above meaningful resistance versus the Yen. Price targets remain at post-financial-crisis highs near ¥190, while support starts at ¥186.

EURJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The Euro continues to trade below substantial volume-based resistance versus the Japanese Yen near the ¥137 mark which extends through ¥139. Our bias remains somewhat bearish as long it holds below.

USDCHF

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The US Dollar has broken below important volume-based support versus the Swiss Franc at SFr0.9350, and targets are now seen at volume-based support starting at SFr0.9050.

USDCAD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The US Dollar trades just above notable volume-based support versus the Canadian Dollar at C$1.2000, but a break below leaves little in the way of comparable support until C$1.16.

NZDUSD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The New Zealand Dollar recently broke below key volume-based support at $0.7500, and the previous price floor now acts as important resistance. Further breakdown targets multi-year lows near $0.7170.

AUDJPY

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The AUD/JPY trades above key volume-based levels in the ¥93.50-95.50 range, and a sustained move above leaves little in the way of major resistance.

EURAUD

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The EUR/AUD failed to break above key resistance starting near $1.4400, and a continued hold below leaves focus on minor support near $1.4100.

EURGBP

Total Buy Volume Executed, Total Sell Volume Executed, Net Volume Executed (Buy-Sell)

Length of bar indicates the sum of Buy and Sell volume.

US Dollar Breaks Critical Support versus Euro - Here are Levels to Watch

The Euro/Sterling trades within meaningful price/volume congestion in the £0.7200-0.7400, and the lack of comparable support leaves focus on key lows near 0.7100 and the multi-year trough of 0.7010.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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