Chief Technical Strategist, James Chen, provides the weekly technical analysis outlook for the major currency pairs, including EUR/USD, GBP/USD, USD/JPY, and AUD/USD, as well as the FTSE 100 index.
The focus is on technical price trends and major support and resistance levels.
EUR/USD has broken down below major support at 1.3500 and continues to show a strong bearish bias.
GBP/USD is in a pullback near multi-year highs, with key support directly below at the 1.7000 level.
USD/JPY continues to trade in a tight range just above 100.75 support with a slight bearish bias.
AUD/USD has pulled back after hitting a 2014 high three weeks ago, but could soon be poised to retest those highs.
The FTSE 100 index has rebounded after dropping down to key support around 6650, but could be preparing for a further retracement or correction within its long-term bullish trend.
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