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Wednesday, June 15th
GBP/USD has recovered slightly after six-day consecutive fall. After visiting nine-week low near area of 1.41 the cable took a break and has recovered part of it losses despite the fact that “Brexit” polls are still showing strong overweight in “leave” camp. Today the center stage will take Fed monetary policy decision due later in the American session. However, volatile session is expected today as UK will introduce Average Earnings coupled with Claimant Count Change followed by US PPI and Crude Oil Inventories. At the moment the pair is trading at 1.4172 with todays approximate support and resistance levels located at 1.3980 and 1.4328.
USD/JPY is failing in attempts to consolidate at daily highs as dollars corrections and eased risk-off sentiment are weighing the pair. Expected that the major will hold on in narrow range, as investors will stay cautious in anticipation of the crucial monetary policy decisions by the Fed and BOJ coming later this day. At the moment the pair is trading at 106.23 with todays support and resistance levels at 105.24 and 107.26.
EUR/USD once again tested daily lows near 1.1190 level. The pair has fallen sharply yesterday as shared currency got negative influence from sentiment surrounded “Brexit”. Moreover, the pair is staying under pressures as dollar has strengthened its positions against its counterparts. Looking ahead, today traders focus will remain on the Fed Interest Rate Decision however, market participants are not expecting rate hike this month. Today Eurozone will release Trade Balance followed by US PPI and Crude Oil Inventories that also will be watched for further momentum. Currently the pair is trading at 1.1212 with todays support and resistance levels located at 1.1120 and 1.1340.
AUD/USD has recovered part of its positions after disappointing Australian Consumer Sentiment data. However, the pair will feel weak today as softer oil prices with lower Asian equities are weighting the pair. Today traders will watch for US PPI and Crude Oil Inventories followed by major event Fed Interest Rate Decision that likely will bring massive volatility to the market. Also Employment Changes from Australia are scheduled later this day. At the moment the pair is trading at 0.7378 with todays support and resistance levels at 0.7249 and 0.7438.
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