Forex

US DOLLAR TALKING POINTS: The US Dollar began last week by setting a fresh monthly low, but that led into a strong bounce that held into the end of the week. USD strength came back last week, helped along by dips in EUR/USD and GBP/USD. USD/JPY put in a strong topside move, signaling the return of Yen-weakness in a theme that may have some staying power. AUD/USD was the outlier, as the Australian Dollar was stronger than USD, setting up for an area of interest for counter-themes. This could also open the door for short interest in EUR/AUD or GBP/AUD along with bullish interest in Yen-pairs such as AUD/JPY and USD/JPY, or perhaps even EUR/JPY and GBP/JPY as the Yen was weaker than both the Euro and Pound last week. The analysis contained in article relies on price action and chart formations. To learn more about price action or chart patterns, check out our DailyFX Education section.