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Thursday, June 16th
USD/JPY reached the lowest levels since Sept 2014 at 104.01 spot. After Fed as well as BOJ left their interest rates unchanged, the pair has found herself under bearish pressure. Today in data calendar traders will find US CPI data and Philadelphia Fed Manufacturing Index scheduled later in the New York session. At the moment the pair is trading around its todays lows at 104.15 meeting strong resistance near 104 level. Todays support and resistance levels are located at 103.33 and 105.94.
GBP/USD has regained bullish trend and now is trading near its daily lows witnessed at 1.4159. Yesterday the pound got a boost from better-than-expected UK employment data, sending the pair over the level of 1.42. But today the pair remains highly pressured as “Brexit” polls results are showing that “leave” voted participants remains on the lead. Moreover, the pound today got extra selling pressure against its US counterpart on the back of sharp drop in pounds cross with yen as BoJ has left its interest rate unchanged. Looking ahead, today traders will set up their focus on BoE interest rate decision, expectedly leaving it unchanged. Also UK will release today Retail Sales followed by US CPI data and Philadelphia Fed Manufacturing Index. At the moment the pair is trading at 1.4175 with todays approximate support and resistance levels located at 1.3994 and 1.4299.
EUR/USD is moving towards 1.13 level, supported by USD weakness. The pair got major support today from the sharp downslide in the USD cross yen responding on BoJ decision to leave the rate unchanged. Also the pair got some bullish moves after slightly dovish FOMC statement released yesterday. Today in data calendar are scheduled ECB Economic Bulletin and Eurozone CPI followed by US CPI with Philadelphia Fed Manufacturing Index. At the moment the pair is trading at 1.1287 with todays support and resistance levels at 1.1141 and 1.1357.
USD/CHF failed to benefit from SNB Interest Rate Decision and spiked level of the 0.96. The pair was heavy weighed this morning on the back of weakened US dollars positions as Fed and BoJ has left their interest rates flat. As expected The Swiss National Bank has kept the interest rate steady today as SNB board members indicated that there is no need in further easing of monetary policy. However, the pair rose sharply after mention that CHF remains significantly overvalued. Today traders will focus on US CPI with Philadelphia Fed Manufacturing Index for further momentum. At the moment the pair is trading at 0.9597 with todays support and resistance levels located at 0.9549 and 0.9695.
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