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Technical Trade Levels: Dollar, EUR/USD, USD/MXN, AUD/USD, Gold & SPX

Technical Trade Levels: Dollar, EUR/USD, USD/MXN, AUD/USD, Gold & SPX

Michael Boutros, Strategist

Weekly Technical Trade Levels on USD Majors / Commodities

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Dollar Plummets into the Weekly Open – Gold Recovery Vulnerable into Resistance

The US Dollar is under heavy selling pressure early in the week with the DXY down more than 0.5% into the open of US trade. The decline takes the index into near-term uptrend support and we’re looking for a pivot early in the week for guidance. Meanwhile, the recent gold price recovery is now testing Fibonacci resistance and put the multi-day rally at risk early in the session. An in-depth look at the technical levels for the Dollar Index, EUR/USD, USD/CAD, USD/MXN, Gold, NZD/USD, AUD/USD, USD/CHF, GBP/USD, GBP/CAD, GBP/JPY, SPX and EUR/JPY.

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---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.

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