For the start of the week the USAD is likely to come under pressure however this may be very short lived with a heavy data schedule and several rate announcements.

Keeping things very simple the euro/usa continues to play a 1.3750 to 1.4340 range and nothing has changed. Unless we get a sustained break of 1.4340 euro/usa is very likely to sell off.

Commodity currencies remain strong however also very overbought. A correction is very likely with 1.1200 a possible target by mid week on usa/cad.

For a complete look at the week ahead in the Forex market please click on the enclosed link.