Dollar ended as the strongest one, closing notably higher against all other major currencies, as risk-on sentiment lost steam while treasury yields surged. The late momentum was rather impressive and argues that the greenback might be ready for breakouts. While Canadian Dollar ended as the second strongest, it's Swiss Franc's resilience, and strength against European majors that's worth more attention.

New Zealand Dollar ended as worst performing one despite RBNZ's hawkish rate hike. Aussie was a close second. But at the same time, Yen, Euro and Sterling were also weak. These three have the potential to overtake and loser spots in the near future.

EUR/USD Weekly Outlook

EUR/USD's decline last week suggests that corrective recovery from 0.9951 has completed at 1.0368, after rejection by channel resistance and 55 day EMA. Initial bias stays on the downside this week for retesting 0.9951 low first. Break will resume larger down trend to 61.8% projection of 1.0773 to 0.9951 from 1.0368 at 0.9860, and then 100% projection at 0.9546. On the upside, above 1.0121 minor resistance will turn intraday bias neutral first. But outlook will stay bearish as long as 1.0368 resistance holds.

EURUSD | USDJPY | GBPUSD | USDCHF | AUDUSD | USDCAD

EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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