The US Dollar was mixed against all of its major pairs on Monday.

On the U.S. economic data front, there was no major news.

The Euro was under pressure against all of its major pairs. In Europe, the eurozone Sentix Investor Confidence Index for August was released at -13.4 (vs -16.0 expected). The Bank of France posted Business Industry Sentiment Indicator for July at 99 (vs 92 expected).

- advertisement -

On a long term Weekly chart, the AUD/USD is challenging a very important declining trend line in place since 2014. A break above could signal the beginning of a major multi-year rebound. If the trend line holds as resistance, look for a drop down towards 0.6515 and 0.617 in extension.

Previous articleEco Data 8/11/20
Next articleAsia Morning: U.S. Dow Up For 7th Session
DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.