The US Dollar is depreciating after the dovish Fed’s meeting on Wednesday. Inflation data released on Thursday added pressure: core CPI rose by only 0.1% in May. DXY fell below 94 points. Next support is seen at 93 points – these are the May lows.
EUR/USD rose above 1.1400 – market forgot about the Greek issue after the FOMC disappointment. Watch the Ecofin meeting headlines on Friday. Resistance for EUR/USD lies at 1.1530 – break higher could confirm an inverse “head-and-shoulders” formation with a strong bullish potential. Watch the 1.1050 support.
GBP/USD broke above the 1.5900 resistance, reaching its highest levels since 2014. We’ll see whether the cable manages to fix above 50% Fibonacci (1.5870). Support lies at 1.5800, while resistance – at 1.6000.
USD/JPY retraced down below 123 yen. Support lies around 122.40.Break lower could provoke a strong selloff. Watch the Bank of Japan meeting tonight.
AUD/USD surged above the 0.7800. We are not sure that the pair will be able to fix above here, but a weekly close could become a strong buying signal.
EUR/USD rose above 1.1400 – market forgot about the Greek issue after the FOMC disappointment. Watch the Ecofin meeting headlines on Friday. Resistance for EUR/USD lies at 1.1530 – break higher could confirm an inverse “head-and-shoulders” formation with a strong bullish potential. Watch the 1.1050 support.
GBP/USD broke above the 1.5900 resistance, reaching its highest levels since 2014. We’ll see whether the cable manages to fix above 50% Fibonacci (1.5870). Support lies at 1.5800, while resistance – at 1.6000.
USD/JPY retraced down below 123 yen. Support lies around 122.40.Break lower could provoke a strong selloff. Watch the Bank of Japan meeting tonight.
AUD/USD surged above the 0.7800. We are not sure that the pair will be able to fix above here, but a weekly close could become a strong buying signal.
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