Sample Category Title

Pivot (invalidation): 0.9885

Our preference Short positions below 0.9885 with targets at 0.9850 & 0.9830 in extension.

Alternative scenario Above 0.9885 look for further upside with 0.9915 & 0.9935 as targets.

Comment A break below 0.9850 would trigger a drop towards 0.9830.

Pivot (invalidation): 109.35

Our preference Long positions above 109.35 with targets at 109.70 & 109.85 in extension.

Alternative scenario Below 109.35 look for further downside with 109.00 & 108.70 as targets.

Comment Intraday technical indicators are mixed and call for caution.

Pivot (invalidation): 1.3250

Our preference Long positions above 1.3250 with targets at 1.3315 & 1.3350 in extension.

Alternative scenario Below 1.3250 look for further downside with 1.3220 & 1.3180 as targets.

Comment The RSI advocates for further upside.

Pivot (invalidation): 1.1670

Our preference Long positions above 1.1670 with targets at 1.1755 & 1.1800 in extension.

Alternative scenario Below 1.1670 look for further downside with 1.1630 & 1.1600 as targets.

Comment The RSI is bullish and calls for further advance.

Our pivot (invalidation) point stands at 6079.

Our preference As Long as 6079 is support look for 6580.

Alternative scenario Below 6079, expect 5886 and 5771.

Comment The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is below its 20 MA (6244) but above its 50 MA (6213).

For the 24 hours to 23:00 GMT, the EUR rose 0.40% against the USD and closed at 1.1703.

Macroeconomic data indicated that Germany's Ifo business climate index dropped to a six-month low level of 101.8 in June, in line with market expectations, after recording a revised level of 102.3 in the prior month. Meanwhile, the business expectations index remained unchanged at 98.6 in June, defying market expectations for a drop to a level of 98.0. Additionally, the nation's Ifo current assessment index eased to a level of 105.1 in June, from a revised reading of 106.1 in the previous month, while markets had anticipated for a fall to a level of 105.6.

In the US, data showed that the Chicago Fed national activity index slid to a level of -0.15 in May, indicating slower economic growth and compared to a revised reading of 0.42 in the previous month. Markets had envisaged for a fall to a level of 0.30.

On the contrary, Dallas Fed manufacturing business index unexpectedly advanced to a level of 36.5 in June, defying market consensus for a fall to a level of 24.9. In the preceding month, the index had registered a level of 26.8. Moreover, the nation's new home sales rebounded by 6.7%, on monthly basis in May, to a level of 689.0K, higher than market expectations of 667.0K. In the prior month, new home sales had recorded a revised reading of 646.0K.

In the Asian session, at GMT0300, the pair is trading at 1.1716, with the EUR trading 0.11% higher against the USD from yesterday's close.

The pair is expected to find support at 1.1657, and a fall through could take it to the next support level of 1.1599. The pair is expected to find its first resistance at 1.1746, and a rise through could take it to the next resistance level of 1.1777.

Amid lack of macroeconomic releases in the Euro-bloc today, investors will look forward to the US Richmond Fed manufacturing index and consumer confidence index, both for June, slated to release later in the day.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the GBP rose 0.16% against the USD and closed at 1.3282.

In the Asian session, at GMT0300, the pair is trading at 1.3286, with the GBP trading slightly higher against the USD from yesterday’s close.

The pair is expected to find support at 1.3241, and a fall through could take it to the next support level of 1.3197. The pair is expected to find its first resistance at 1.3310, and a rise through could take it to the next resistance level of 1.3335.

Trading trend in the Pound today is expected to be determined by the release of UK’s BBA mortgage approvals for May, due to release in a few hours.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD rose 0.15% against the JPY and closed at 109.67.

Yesterday, data showed that Japan's final leading economic index advanced to 106.2 in April, compared to a revised level of 104.5 in the previous month. The preliminary figures had envisaged for a rise to a level of 105.6. Furthermore, the nation's preliminary coincident index rose to 117.5 in April, while preliminary figures had recorded an advance to 117.7. The coincident index had recorded a revised level of 116.0 in the prior month.

In the Asian session, at GMT0300, the pair is trading at 109.42, with the USD trading 0.23% lower against the JPY from yesterday's close.

The pair is expected to find support at 109.18, and a fall through could take it to the next support level of 108.94. The pair is expected to find its first resistance at 109.85, and a rise through could take it to the next resistance level of 110.28.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CHF and closed at 0.9869.

In economic news, Switzerland’s total sight deposits rose to a level of CHF576.7 billion in the week ended 22 June, from CHF576.5 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 0.9860, with the USD trading 0.09% lower against the CHF from yesterday’s close.

The pair is expected to find support at 0.9847, and a fall through could take it to the next support level of 0.9835. The pair is expected to find its first resistance at 0.9881, and a rise through could take it to the next resistance level of 0.9903.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the USD remained flat against the CAD and closed at 1.3292.

In the Asian session, at GMT0300, the pair is trading at 1.3295, with the USD trading marginally higher against the CAD from yesterday’s close.

The pair is expected to find support at 1.3270, and a fall through could take it to the next support level of 1.3244. The pair is expected to find its first resistance at 1.3323, and a rise through could take it to the next resistance level of 1.3350.

The currency pair is showing convergence with its 20 Hr and 50 Hr moving averages.