TECHNICAL UPDATE 21TH JUNE
In general, EUR/USD is moving downwards. As of late, EUR/USD broke beneath the critical resistance of 1.19.
European Central Bank President Lagarde will be talking later in 2030 (GMT+8).
Likewise, she will affirm before the European Parliament Economic and Monetary Affairs Committee at 2215 (GMT+8). During these occasions, there might be unpredictability in EUR.
EUR/USD’s next support zone is at 1.17900 and the following opposition zone is at 1.19700. Search for selling chances of EUR/USD. Specialized pointers keep up their bearish slants inside oversold readings. The close term picture is likewise bearish, as per the 4-hour graph, notwithstanding a few indications of weariness during outrageous oversold conditions. A pullback towards the 1.1920 value zone is conceivable, even though as long as it holds underneath it, the danger stays slanted to the disadvantage.
A reasonable disadvantage break of the 100-day EMA and a climbing pattern line from December 2020, separately around 1.3900 and 1.3985, coordinates GBP/USD towards late January 2021 tops encompassing 1.3760. As of late, GBP/USD moved down into the support zone of 1.38000.
The UK Retail Sales m/m information (Actual: – 1.4%, Forecast: 1.5%, Previous: 9.2%) delivered last Friday showed a decrease in customer spending in May.
Search for selling chances of GBP/USD on the off chance that it breaks the help zone of 1.38000.
USD/JPY keeps on moving the vertical way, a pattern set in the second seven-day stretch of June. After making a low at 107.47 in late April, the pair is rising consistently with YTD in the center. Yen limits misfortunes on its place of refuge claim regardless of BOJ no show. Generally, USD/JPY is moving upwards.
During their money-related approach meeting last Friday, the Bank of Japan (BoJ) held financial arrangements unaltered. Also, the national bank has broadened its pandemic-help program by a half year to offer monetary help to firms.
USD/JPY’s next support zone is at 108.500 and the following resistance zone is at 110.800.
Search for transient buying chances of USD/JPY.
Generally, AUD/USD is moving downwards. As of late, AUD/USD broke the help zone of 0.75500.
The Australian Retail Sales m/m information (Forecast: TBA. Past: 1.1%) will be delivered later at 0930 (GMT+8).
Presently, AUD/USD is trying to break over the vital degree of 0.75. Its next help zone is at 0.73900 and the following opposition zone is at 0. 75500.
Search for selling chances of AUD/USD if it neglects to break over the critical degree of 0.75. the past support line from December around 0.7580, confines momentary AUD/USD potential gain, which thusly keeps the bear coordinated to August 2020 top close to 0.7420-15.