LeTechs Forex Blog - Daily Forex Technical Analysis on 9th JUNE 2016

09 Jun

Daily Forex Technical Analysis on 9th JUNE 2016

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Daily Technical Analysis on 9th June 2016

Technical Pairs: EURUSD, GBPUSD, AUDUSD.

EURUSD

For EURUSD a positive macroeconomic figure in the Euro zone helped investors to get the strength & the desire for a fresh wave of euro purchases. There were no key events on the calendar on Yesterday.

EURUSD Overall outlook stays bullish. Buyers might force the dollar higher the resistance of 1.137 levels. The value touched the ground level of 1.1400 on Wednesday. The resistance stands at 1.1450, the support stands at 1.137 levels. If the pair keeps improve it will touch the level of 1.1450 early. However the pair is overbought & we might anticipate a correction soon.

GBPUSD

On last day, manufacturing PMI supported the pound. The index clearly shows the maximum growth in nearly 4 years of 1.6 percent vs. Earlier -0.4 percent. Yet the pound is below pressure for the reason of the upcoming referendum. The pair might set a fresh local high at the level of 1.4600 on the European session. Nonetheless, the pair might not fixate its growth over the level of 1.456 & re-twist on it. The resistance remains at 1.456, the support remains at 1.4480.

MACD indicates decreased sell signal. RSI reached the overbought level of 70 & bounce back. The Moving Average of 200 limits the pound will be growth on the daily chart. But we are still bearish in middle term. The crack under 1.448 levels should move this market looking for the levels of 1.4400.

AUDUSD

AUDUSD- AUD came under pressure when Home loans index in Australia will rise less than anticipated, as investments refused following the rising in last April this year. The AUD will grow throughout the course of the last day reaching a new local high at the levels of 0.748. The resistances are 0.7500 levels; the support is at 0.7400 levels. MACD blocked growing on Wednesday. It signs a buy signal. The value is over the Moving Averages of 50, 100 & 200 on the 4HR chart. It’s a buy signal.

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