King dollar has dominated the start of the week with the US dollar index hitting a 17-month high. Today we take a look at EUR/USD, GBP/USD and USD/CHF daily charts.
- Broke key support of 1.13 after European open and sits at a 17-month low.
- Bearish pinbars have marked three prominent, lower highs.
- Next major support is around 1.1120 near the June ’17 lows.
EURUSD Daily Chart
- A continuation gap points to further downside for cable.
- Whilst technically within a range, a series of lower swing highs have appeared across the top of its range.
- A run towards August’s low is favoured whilst beneath 1.2958.
GBPUSD Daily Chart
- The Swissy is considering a break to an 18-month high.
- Only minor pullbacks have been seen since the September low to denote a strong trend.
- A break above 1.0108 clears the April ’17 and May ’17 highs and brings 1.0170 into focus.
USDCHF Daily Chart