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Tuesday, June 14th
GBP/USD is trading in bearish trend this morning as UK referendum is coming closer. The pair continues to be heavy weighted as less than 10 days are left till UKs major event. The latest polls results are showing that the leading number of the participants is still based in the “leave” camp. Moreover, today traders will focus on UK CPI figures with coming later Retail Sales data from US. At the moment the pair is trading at 1.4175 with todays support and resistance levels located at 1.4024 and 1.4446.
USD/CHF has recovered slightly from yesterdays dollars sell-off as dollar has stopped its downslide move against its major peers. However, recovery seems to be limited as “Brexit” infuse fear in market pushing traders to find shelter in traditional safe-haven currency such as CHF. Looking ahead, today traders will focus on Swiss PPI and US retail sales data scheduled later this day. At the moment the pair is trading at the 0.9640 with todays support and resistance levels located at 0.9600 and 0.9698 spots.
EUR/USD is trading under the level of 1.13, moving in south direction as dollar is strengthening its positions against its major counterparts. However, the dollars gains will be limited as market participants most likely will leave US currency on hold waiting for Fed Interest Rate Decision scheduled this Wednesday. Also today, markets will look forward to the Industrial Production data from Eurozone with Retail Sales figures from US coming ahead. At the moment the pair is trading 1.1270 accelerating its downslide with todays approximate support and resistance levels located at 1.1203 and 1.1347.
USD/CAD has managed to recover part of its losses and now the pair is trading toward todays high marked at 1.2848 as US dollar is strengthening its positions across the market. Also the pair got minor support as softer crude oil prices weighted Canadian currency versus its American neighbor this Tuesday. Today traders will set up their focus on Retail Sales and API Weekly Crude Oil Stock from US scheduled later this day. Currently the pair is trading at 1.2835 spot with todays support and resistance levels located at 1.2719 and 1.2897 marks.
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