DXY not only remains massive overbought at 104.00's and trades inside 200 pip ranges from 102.00's to 104.00's for the past 3 weeks but theand DXY line of demarcation is located at 1.0600's. AS DXY traded higher into the 104.00's in dead ranges, EUR/USD consolidated at the lows in compressed ranges.
EUR/USD higher must break above 1.0875 and 1.0945 to target 1.1047. The line at 1.0945 is expected to hold this week. GBP/AUD below 1.9600's targets again low 1.9400's. Longer term, overbought GBP/AUD targets 1.8999 and 1.8744. GBP/NZD from August 24, GBP/NZD shorts next week at 2.1485 and 2.1518 targets 2.1352, 2.1229, 2.1086. GBP/NZD below 2.1104 targets 2.1044 then 2.0984. When 2.0864 breaks then targets become 1.0700's easily.
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