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US Dollar Reclaims Critical Price Support - Here are Next Key Levels

US Dollar Reclaims Critical Price Support - Here are Next Key Levels

2015-05-19 13:45:00
David Rodriguez, Head of Product
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- US Dollar retakes critical volume-based technical levels versus Euro, British Pound, Yen

- Greenback remains in control as traders switch direction in a hurry

- 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 traded above critical volume-based support versus the Euro, Sterling, and Japanese Yen. Here are the key levels we’re watching.

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 Reclaims Critical Price Support - Here are Next Key Levels

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

The Euro has failed to sustain a move above critical volume-based resistance starting at the $1.1350 mark, and a hold below keeps the larger downtrend firmly intact. Key support is seen near $1.10.

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 Reclaims Critical Price Support - Here are Next Key Levels

The British Pound has failed to sustain its rally above $1.5650, and said level now marks important resistance. Near-term support is seen in the $1.5300-1.5400 range.

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 Reclaims Critical Price Support - Here are Next Key Levels

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. There is comparatively little in the way of resistance.

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 Reclaims Critical Price Support - Here are Next Key Levels

The Australian Dollar has failed to sustain a move above a key volume-based technical level at the $0.8100 mark. Important support is now seen at previous resistance at the $0.7800 level.

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 Reclaims Critical Price Support - Here are Next Key Levels

The Sterling currently trades at important volume-based technical support near ¥186, but a failure at these levels leaves little in the way of a move towards ¥183. Major resistance remains near ¥190.

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 Reclaims Critical Price Support - Here are Next Key Levels

The Euro has failed to trade above substantial volume-based resistance versus the Japanese Yen at the ¥137-139 range. 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 Reclaims Critical Price Support - Here are Next Key Levels

The US Dollar trades at an important volume-based technical level versus the Swiss Franc at SFr0.9350, and further support starts near SFr 0.9050 while resistance is seen near SFr0.9450.

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 Reclaims Critical Price Support - Here are Next Key Levels

The US Dollar continues to hold above important volume-based support versus the Canadian Dollar at C$1.2000, and resistance is seen at C$1.2250. A breakdown sees little 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 Reclaims Critical Price Support - Here are Next Key Levels

The New Zealand Dollar has failed to hold above key volume-based technical levels near $0.7500, and 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 Reclaims Critical Price Support - Here are Next Key Levels

The AUD/JPY trades almost squarely at key volume-based technical 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 Reclaims Critical Price Support - Here are Next Key Levels

The EUR/AUD trades at minor volume-based support near A$1.4100, and a continued breakdown leaves little in the way of a move towards comparable levels at A$1.3850.

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 Reclaims Critical Price Support - Here are Next Key Levels

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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