Originally published by AxiTrader
The US dollar has regained strength in the past few trading days, and traders are asking themselves if it is only temporary or if the Greenback could have a comeback.
The charts suggest that the dollar could indeed extend gains in the near-term.
USD/JPY cleared resistance at 113, paving the way for a rally towards at least 115.
USD/CHF has taken out a major resistance area at 0.9840-60 without much struggle. Parity could be next.
NZD/USD downside momentum accelerated following the break sub-0.7050 and the next major support level now lies at 0.68.
AUD/USD could follow the kiwi lower if 0.7735 support goes. 0.75 would then be the next level to watch.
And finally, there is a decent chance that we will see an USD/CAD short squeeze - especially given positioning. However, the topside is likely to be capped at 1.30 in the near-term, as rate expectations for Canada remain fairly high.
