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FOMC Post Mortem – US Dollar Negative Bias

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Updated:

A more negative tone for the US Dollar since Wednesday 17th June and the FOMC Statement. Losses for the US currency against most major G10 currencies (even versus the Euro) keeps the risks for further losses in late June.

Here we view the key USD support levels against GBP, EUR, JYP and AUD.

GBPUSD

  • The bias is for psychological/ option target at 1.6000 and then 1.6182/88.
  • Above sees threat closer to 1.6525.

Daily GBPUSD Chart

GBPUSD Chart

EURUSD

  • We see upside bias with risk to 1.1467.
  • Above aims for 1.1534 and 1.1680.

Daily EURUSD Chart

EURUSD Chart

AUDUSD

  • A Double Bottom on the move above .7819/40.
  • Risk is now higher for  .7932 and maybe .8000 and .8164

Daily AUDUSD Chart

AUDUSD Chart 

USDJPY

  • Short-term risk is for a correction down to 121.53 (but which we would look to try to hold to maintain an underlying bull theme).

Daily USDJPY Chart

USDJPY Chart