EURUSD is currently targeting 1.3409 level but it is being pushed down due to a but higher RSI and we might see EURUSD taking a bit more of dip towards 1.3250 level to complete it retracement and then resume its upward trend towards 1.3409.
Break of 1.3409 level will open next targets for EURUSD around 1.3474 level. Therefore we will find most traders looking to buy EURUSD on retracement dips during this week.
GBPUSD: (1.9722)
GBPUSD is currently looking to target 1.9798 level and we might see GBPUSD making an initial move towards that level and then taking a dip from 1.9798 level due to a high RSI value. This retracement dip is expected to target 1.9650 level and from that level, we might see GBPUSD making another attempt to break 1.9800 level.
On the lower side, we might see GBPUSD taking a dip as low as 1.9575 level, break of that level will start the downward trend for GBPUSD.
USDJPY: (117.78)
USDJPY is currently trapped between 118.30 and 117.24 levels. We might see USDJPY breaking towards 119.22 level. RSI is currently around the middle and don't seemed to play much part in USDJPY movement during this week. We might see traders looking to buy USDJPY around 117.25 levels.
Break of 117.24 level will set 116.53 as next target for USDJPY and also possible start of downward movement.
USDCHF: (1.2144)
USDCHF is currently heading towards its target at 1.2026 and break of which will set 1.1900 level as next target for USDCHF. RSI is around 45 and thus have more than enough space for USDCHF to challenge 1.2026 level. Traders will be looking to sell USDCHF on rise to retracement levels around 1.2191 for an extended move below 1.2100 level.
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