The US$ has tumbled as risk sentiment continued to improve last session with the S&P500 making a record high close and the EUR/USD breaking free of the 1.20 level. This US$ weakness has helped Gold to recover and the upper trend line of bullish descending wedge is now in greater focus.

Data: Watch today with AUD GDP, EUR Unemployment data, US ADP NFP and a Fed Chair Powell testimony.

Earnings:

DXY daily: so much for that wedge! A large bearish daily candle and break below 91.75 support. The next support level to monitor is 88:

Trend line breakouts:

EUR/USD 4hr: a TL b/o for 70 pips:

GBP/JPY 4hr: a b/o above 139 for 100 pips:

S&P500 4hr: edging higher:

ASX-200 4hr: ditto:

Other markets:

Gold 4hr: this has recovered on the back of US$ weakness so watch for any wedge b/o:

AUD/USD 4hr: it looks like a Bull Flag b/o is underway BUT watch 0.74 with today’s GDP data:

AUD/JPY 4hr:  watch 77 with today’s GDP data:

NZD/USD 4hr: drifting higher:

GBP/USD 4hr: ditto:

USD/JPY 4hr: messy here but revised trend lines to monitor for any new b/o: