The US Dollar Exhaustion Trade- Levels to Know

(MENAFN- DailyFX) T echnical setups we're tracking into the weekly open Check out our 2018 projections in our Live Weekly Trading Webinars on at 13:30 GMT (8:30ET) DXY Rally Approaches Weekly Resistance Hurdle The Dollar index has rallied nearly 6.5% from the yearly lows with the advance approaching confluence resistance at 94.14/27. Although broader outlook remains constructive, the near-term technical picture suggests price may be vulnerable heading into this key zone. Accordingly, our focus has remained on the majors and we're looking for possible exhaustion this week.

Key Levels in Focus DXY Resistance at 94.14/27. Initial support channel support ~93.10, bullish invalidation at 92.52

EUR/USD Key near-term support at 1.1705(subsequent support 1.1616). Resistance 1.1827 backed by 1.1915

AUD/USD Critical support still 7480. Topside resistance objectives at 7565 & 7600- Key resistance 7636

GBPUSD Risk is lower sub-1.35(resistance). Next beg support target at 1.33

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UK data will highlight this week's event risk with commentary from Bank of England (BoE) officials, the Consumer Price Index (CPI) and GDP figures on tap. In this webinar we review updated technical setups on DXY, EUR/USD, AUD/USD, GBP/USD , AUD/NZD , AUD/JPY , Gold , Crude Oil , USD/JPY , EUR/NZD , TNX (US 10Year), Bitcoin (BTC/USD), Ethereum (ETH/USD), Ripple (XRP/USD) and Litecoin (LTC/USD).

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Key Data Releases Other Setups in Play: Why does the average trader lose?

---Written by Michael Boutros, Currency Strategist with DailyFX

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