Last Update At 29 Jun 2015 00:55GMT
Trend Daily Chart
Sideways
Daily Indicators
Neutral
21 HR EMA
0.9361
55 HR EMA
0.9350
Trend Hourly Chart
Sideways
Hourly Indicators
Neutral
13 HR RSI
54
14 HR DMI
+ve
Daily Analysis
Choppy consolidation to continue
Resistance
0.9503 - Jun's high (5th)
0.9484 - 01 Jun high
0.9420 - Intra-day high
Support
0.9297 - Last Fri's low
0.9249 - Last Fri's high (now sup)
0.9210 - Last Tue's low (AUS)
. USD/CHF - 0.9374... The greenback moved in opposite direction to eur/usd last week, price mat renewed buying at 0.9157 on Mon n climbed to 0.9416 Thur before retreating to 0.9297 in Europe Fri due to selling of eur/chf on risk aversion.
. Looking at the daily chart, despite dlr's decline fall fm May's 0.9545 to 0.9050 in Jun, last week's rebound to 0.9416, then 0.9420 today suggests the aforesaid fall has ended there n consolidation with upside bias is in store initially this week, a daily close abv 0.9416 would add credence to this view, then further headway twd 0.9545 would be seen, a break there would extend upmove fm May's 0.9072 trough at 0.9072 to 0.9600, this is a 'natural' 50% r of the MT fall fm Mar's 1.0129 high at 1.0129 to 0.9050, then later twd 0.9725 (61.8% r) next month. Therefore, buying dlr on dips in anticipation of upmove to indicated upside targets is recommended n only below 0.9200/10 would 'prolong' choppy side ways consolidation n risk possible weakness twd 0.9150.
. Today, despite initial brief jump to 0.9420 in NZ due to selloff in euro, intra-day retreat on rebound in the single ccy suggests consolidation is in store in Asia before upmove resumes n only below 0.9328 may risk weakness to 0.9297.
Recommended Content
Editors’ Picks
AUD/USD hovers around 0.6500 amid light trading, ahead of US GDP
AUD/USD is trading close to 0.6500 in Asian trading on Thursday, lacking a clear directional impetus amid an Anzac Day holiday in Australia. Meanwhile, traders stay cautious due ti risk-aversion and ahead of the key US Q1 GDP release.
USD/JPY finds its highest bids since 1990, near 155.50
USD/JPY keeps breaking into its highest chart territory since June of 1990 early Thursday, testing 155.50 for the first time in 34 years as the Japanese Yen remains vulnerable, despite looming Japanese intervention risks. Focus shifts to Thursday's US GDP report and the BoJ decision on Friday.
Gold price lacks firm intraday direction, holds steady above $2,300 ahead of US data
Gold price remains confined in a narrow band for the second straight day on Thursday. Reduced Fed rate cut bets and a positive risk tone cap the upside for the commodity. Traders now await key US macro data before positioning for the near-term trajectory.
Injective price weakness persists despite over 5.9 million INJ tokens burned
Injective price is trading with a bearish bias, stuck in the lower section of the market range. The bearish outlook abounds despite the network's deflationary efforts to pump the price. Coupled with broader market gloom, INJ token’s doomed days may not be over yet.
Meta Platforms Earnings: META sinks 10% on lower Q2 revenue guidance Premium
This must be "opposites" week. While Doppelganger Tesla rode horrible misses on Tuesday to a double-digit rally, Meta Platforms produced impressive beats above Wall Street consensus after the close on Wednesday, only to watch the share price collapse by nearly 10%.