Weekly Trade Levels for EUR/USD, NZD/USD, USD/CAD, Gold, Oil & More
- Technical trade setups we’re tracking into the start of the week, month & quarter
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Key USD Setups in Play Heading into the Start of 2Q
It’s the start of a new week, month and quarter with the US Dollar majors trading within well-defined technical setups as we head into the open. Keep in mind we have the Reserve Bank of Australia (RBA) interest rate decision on tap tonight with US Non-Farm Payrolls (NFP) and Canada employment data slated for Friday. The In this webinar we review updated technical setups on DXY, EUR/USD, NZD/USD, USD/CAD, GBP/USD, Crude Oil (WTI), Gold, AUD/USD, EUR/NZD and EUR/AUD.
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Key Technical Levels in Focus
EUR/USD – Focus is on a reaction of confluence support around the 2018 low at 1.1215 – a break / close below exposes key Fibonacci support at 1.1186. Initial resistance at 1.13 with near-term bearish invalidation at 1.1330.
NZD/USD – Kiwi rebounded off slope support last week with price still trading within the 2019 consolidation range. Key support at last week’s low – resistance at 6837 backed by 6870/76. A break / close lower would exposes the 200DMA at 6735 and 6722.
USD/CAD – Key near-term confluence support at 1.3327– Initial resistance at 1.3407 with 1.3435/37 still critical. A break lower shifts the focus towards subsequent support objectives at 1.3280 & 1.3250.
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Key Event Risk This Week
Economic Calendar - latest economic developments and upcoming event risk
Active Trade Setups:
- Canadian Dollar Price Outlook: USD/CAD- Break or Bend, Monthly Highs
- Oil Price Outlook: Crude Breakout Battles 60- WTI Trade Levels
- Kiwi Price Outlook: NZD/USD Post-RBNZ Sell-Off Targets Yearly Support
- Gold Price Outlook: XAU/USD Rally Folds from Fibonacci Resistance
- Euro Price Outlook: EUR/USD Battle Lines Drawn into March Close
---Written by Michael Boutros, Currency Strategist with DailyFX
Follow Michael on Twitter @MBForex
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.