Although the USD Index had some troubles at the end of the previous week, we didn’t notice the U.S. dollar’s weakness against its Canadian counterpart. Are there any signs on the horizon that currency bears will attack in the near future?

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February was the best month for the U.S. dollar since October. Nevertheless, what goes up must fall someday. Yesterday, the gravity caught the greenback after President Donald Trump said the country will impose tariffs on steel and aluminum imports. As a result, the USD Index reversed and declined, supporting our 3 currency pairs. Will yesterday’s news kill the greenback’s rally in the coming days?

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Earlier today, the euro, the Australian dollar and the greenback reached their key support/resistance areas. This means that the moment of truth is just ahead of us. Is it possible that the technical picture of EUR/USD and AUD/USD give us valuable clues about the future moves?

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Yesterday, GBP/USD closed the day under an important support, which stopped currency bears earlier this month. This time they showed much more determination, which resulted in further declines and made short positions even more profitable. How low could they push the exchange rate this time?

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The recent price action in USD/CHF we can summarize in one simple word: consolidation. Are there any important technical factors, which can encourage currency bulls or bears to act in the coming week?

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