Your-Thoughts-US-Dollar-Strength-vs-Market-Equities

[EURUSD]

Important Levels to Watch for:

- Resistance line of 1.19344 and 1.20193.

- Support line of 1.16597  and 1.15749.

Commentary/ Reason:

- Against the euro the greenback was a tad firmer at $1.1721.

- Stochastic indicator showing pullback from the undervalued range of 20.

- RSI oscillator geared towards undervalued range.

- The MACD is trading below its signal line and negative. The configuration is negative.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

- Resistance line of 0.92071 and 0.93179.

- Support line of 0.90702 and 0.89595.

Commentary/ Reason:

- Against the safe-harbour Swiss franc, dollar tried to climb at 0.9191.

- Both Stochastic and RSI oscillators entered overbought ranges.

- The MACD is trading above its signal line and positive. The configuration is positive.

USDCHF

 

[GBPUSD]

Important Levels to Watch for:

- Resistance line of 1.31507 and 1.32787.

- Support line of 1.29926  and 1.28647.

Commentary/ Reason:

- The pound was under pressure following poor labour market data overnight, to trade at $1.3026

- Both Stochastic and RSI oscillators entered oversold ranges, with Stochastic tried to pull back against the line of 20.

- The MACD is trading below its signal line and negative. The configuration is negative.

GBPUSD