Fri, Jun 02, 2023 @ 15:20 GMT
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Daily Technical Analysis


Current level – 1.1288

The situation with the currency pair remains unchanged as the downward movement during yesterday’s session was limited above the support zone at 1.1200. At the time of writing, the single European currency continues to rise in value against the U.S. dollar, with the most likely scenario remaining for a test of the resistance at 1.1300. However, the market sentiment remains neutral for the moment and the movement of the currency pair is very likely to remain bound within the range of 1.1260 – 1.1360. There is no planned economic news today that would affect investors’ sentiment.

Resistance Support
intraday intraweek intraday intraweek
1.1307 1.1460 1.1259 1.1180
1.1366 1.1500 1.1205 1.1100


Current level – 113.45

The U.S. dollar managed to recover some of its recent losses against the Japanese yen, but in yesterday’s session, the bears limited the appreciation below the 113.80 resistance level. It is possible that we will witness a range move in the range between 112.75 – 113.80. The data on the gross domestic product for Japan failed to stir any significant action on the market and investors are now turning their attention towards the announcement of the data on the consumer price index for the U.S. (Friday; 13:30 GMT).

Resistance Support
intraday intraweek intraday intraweek
113.80 114.90 113.04 112.75
114.50 115.37 112.75 110.80


Current level – 1.3255

The sell-off was limited down to the support level at 1.3200, followed by a partial recovery towards the zone of the first significant resistance at 1.3296, which is projected to be the first goal for the bulls in today’s session. On the other hand, if investors fail to gain enough momentum, we may witness another breach attempt of the mentioned support zone. If the second test is successful, we may expect another reduction in the price towards the next significant support areas at 1.3100 and 1.2800.

Resistance Support
intraday intraweek intraday intraweek
1.3296 1.3440 1.3206 1.3150
1.3360 1.3500 1.3206 1.3060

DeltaStock Inc.
DeltaStock Inc.
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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