FX WEEK

Deeply oversold EUR/USD begins the week against the following averages: 1.1647, 1.1708, 1.1861, 1.1932, 1.1993 then 1.2035. The 5 year average is located at 1.1447 and 10 year at 1.2023.

USD/CHF vital averages from the close at 0.9204 are located at 0.9130, 0.9380, 0.9511, 0.9551 then 0.9733.

DXY monthly averages from the close at 92.24 as follows: 90.24, 91.57, 92.89, 93.70, 94.93 then a brick wall at 95.00's and the 5 year average at 95.00's.

While DXY 5 year average is located at 95.00's, USD/CHF 5 year average is found at 0.9513.

DXY averages from April maybe slightly off by a few pips but DXY is exactly USD/CHF and USD/CHF is exactly DXY. If DXY averages were ran for current July, averages, support and resistance points would reveal the same exact points.DXY and USD/CHF day trades are exact to daily ranges. DXY as an exchange rate normally trades a few pips higher than DXY however those few pips higher for DXY informs to next resistance points for USD/CHF. If DXY approaches 93.00's for example then USD/CHF informs massive resistance at 0.9300 and USD/CHF would automatically trade lower.

DXY closed at 92.24 and USD/CHF at 0.9204 or 20 pip difference.

USD/CHF at 0.9300's faces massive hurdles to target 0.9500's at 0.9306, 0.9351, 0.9360, 0.9367.

While USD/CHF faces first resistance at 0.9306 and 100 ish pips, EUR/USD is against next break below at 1.1708 or 155 pips lower from the 1.1863 close.

JPY cross pairs begins the week oversold from neutral the past 3 weeks. CHF/JPY must break 119.82 to trade lower while USD/JPY sits at neutral. Better trades than USD/JPY are USD/CHF and USD/CAD.

GBP/NZD not only achieved target at 1.9687 from 1.9800's but GBP/NZD would again lead EUR/NZD while GBP/AUD leads EUR/AUD.

GBP/CHF cloes last 4 weeks: 1.2715, 1.2719, 1.2648, and 1.2750.

If GBP/CHF breaks 1.2682 then GBP/USD, GBP/JPY and all GBP cross pairs trade much lower.