EUR/USD, USD/JPY and AUD/USD Forecast – US Dollar Strength After NFP

EUR/USD Technical Analysis

The euro fell pretty hard against the US dollar during early trading on Friday as the jobs number came out hotter than anticipated in America. We are still very much in a range, though, with the 1.13 level underneath offering support as well as the 1.12 level. With that being the case, I think we’ve got a situation where traders continue to look at this as a market that is somewhat bound, but it is starting to look pretty tired. With that being the case, I believe that we have a situation where traders are going to perhaps look for selling opportunities in the general vicinity.

USD/JPY Technical Analysis

The US dollar has skyrocketed against the Japanese yen during trading on Friday in early trading. But at this point in time, market participants look very much like they are going to have to worry about this crucial 145 yen level, an area that’s been important multiple times. And now that we have the 50 day EMA in that same neighborhood, I think you have to look at this as a potential barrier to overcome. If we can break above there, then the US dollar goes much higher.

AUD/USD Technical Analysis

The Australian dollar has pulled back just a bit during the course of the trading session on Friday as we continue to see a lot of noisy behavior. And I think we have a situation where traders look at the 0.65 level as a potential massive barrier. With that, I think you have to look at this through the prism of a market that is likely to pull back a little bit back into consolidation. But if we can break above the 0.6550 level, then it’s likely that the Aussie will go much higher, perhaps reaching the 0.67 level before it is all said and done. If we break down the 0.64 level as massive support, that being broken to the downside could really send this market much lower.

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