Forex Technical Major Pairs analysis June 12, 2019

USDX (USD Index)

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Forex Technical Major Pairs analysis June 12, 2019

No bounce from the daily SMA 200 yet which is not good news for U.S dollar index. The index might broken downside if it continues to stick near the averages. At the current time, traders will continue to observe the index reaction near the averages.

News to watch

08.30 AM U.S CPI m/m, forecast 0.1%, Core CPI m/m, forecast 0.2%

For full outlook for this week, you can follow Forex Outlook For The Week 10-14 June 2019

Technical Analysis

EUR/USD

Forex Technical Major Pairs analysis June 12, 2019

EUR/USD maintains the bullish pressure and closed at the positive side yesterday. The pair trying to move higher and will test the previous day high soon. On the upside, daily SMA 200 and 1.1360 are resistances level to watch. A breakout above both resistances will trigger buying and change of trend.

today critical levels to watch:

Support: 1.1300, 1.1200, 1.1185, 1.1120

Resistance: 1.1360

GBP/USD

Forex Technical Major Pairs analysis June 12, 2019

No clue on GBP/USD next direction yet, the pair hovering at the middle of 1.2625 – 1.2800 and might continue ranging movement inside the range. Traders could apply ranging strategy until breakout happens.

Today Critical level to watch:

Support: 1.2625, 1.2500

Resistance: 1.2800, 1.3000, 1.3125, 1.3250

USD/JPY

Forex Technical Major Pairs analysis June 12, 2019

Not much movement in USD/JPY yet, the pair is in a bullish correction phase. When the pair reach 109.00 traders could enter short positions with 107.00 – 107.40 as a target.

Today critical levels to watch:

Support: 107.40, 107.00

Resistance: 108.50, 109.00, 109.70

AUD/USD

Forex Technical Major Pairs analysis June 12, 2019

AUD/USD rejection from 0.7000 not gaining momentum, which means the market still uncertain on the pair next direction. As long as the pair stays below 0.7000 and the bearish channel then AUD/USD expected to resume its bearish trend.

Today critical levels to watch:

Support: 0.6900

Resistance: 0.7000

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