This week's economic events are core durable goods orders, CB consumer confidence, prelim GBP, unemployment claims and pending home sales. Last week, USD enjoyed a bull ride. In previous trading session, the price gave a triangle breakout and closed above it, today the index opened above the break out level and is facing strong resistance at 200-day EMA (80.45), support is at 80.35 levels. A huge buy call will appear once the index crosses 80.45 for targets at 80.60, 80.77, 81 and 81.40 levels.
The weekly key resistance is placed at 80.45.
Support is placed at 80.35.
If the index breaks the 80.35 level, it will correct up to 80.06 and 79.89 levels. On an intraday basis, the index looks weak, below 80.30, it may fall to 80.20, 80.12 and 80.07 levels. Until the pair crosses 80.45, traders can hold shorts for 80.30, 80.20 and 80.07 as targets. If this week the index closes above 80.45, it will fly up to 84.10 levels in the coming months.
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