Steven Woodcock – Senior FX analyst for Plutus FX – joined Nick Batsford in the Tip TV studio to discuss his outlook on the FX markets, and what’s driving their movements.
EUR/USD – still looking to test the 117.5-118 levels, it’s currently being driven by EUR/GBP. The euro is unlikely to fall unless it can break below 109. Technicals are proving key and suggest a firmer market.
USD/CAD – continues to be an oil trade, and could potentially see a pullback. 132.5-133 level remains important.
AUD/JPY – The Australian dollar is looking extremely weak, and this is only going in one direction right now. However it could find support at 81.20.
GBP/USD – Cable was feeling heavy last week. The 153.20 resistance level was broke, but there’s another key support at 151. Could see a potential low at 145.
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