Friday’s Forex Levels

Key Levels and Observations
for U.S. Session

USD/NOK Update:

With dollar weakness likely to continue into the US session, USD/NOK should
continue to drift lower especially now that it is back below the 50-day EMA at
6.2900. A move towards 6.2585 is not out of the question by days end, although
we will need a clean break of 6.2750 first.

GBP/USD Outlook

GBP/USD had a nice rally overnight, but has since come under some pressure
despite dollar remaining weak. We expect the 1.9100 level to contain any

Stop loss should have been adjusted to your break-even price, roughly 1.9050-60

AUD/USD Update

Our target price was not quite achieved on our open long position (.7845) but we
still stick to that level. We see any pull-backs to the .7810-15 level as good
areas to either add to or establish long trades.

Dollar Index (DXC) Technicals

The Dollar Index (DXC) has broke down to the near-term target level mentioned in
the post below. The open long trades in GBP and AUD have benefited as a result.

DXC is a bit oversold currently based on 60 and 120-min charts, however, we
would expect any rally towards 84-84.05 to meet more selling. We see a test of

As always, feel free to send me your comments and