This week Technical Pairs: EURUSD, AUDUSD, NZDUSD, USDJPY, GBPUSD, USDCAD.

 

EURUSD was below pressure as the dollar enjoyed a few gains. Yet, the pair managed to recall the losses. The previous week of June features an important German survey & key inflation data. According to various reports, Draghi will wait for longer before illuminating plans with reference to QE tapering. If right, we will be kept in the dim until after the German elections in September. This injures the euro. Euro-zone PMIs sustained showing a constant growth but did not hit expectations. In the US, some Fed officials echoed the hawkish emotion of the fresh rate decision, keeping the dollar bid, but others uttered doubts regarding inflation.

 

Technically, the pair was in the same ranges as support was held at 1.1136 levels mentioned last week. For this week, if the support breakout in a upper side the pair was moving advanced superior. EURUSD turn from NEUTRAL to BULLISH.

 

AUDUSD upturned directions previous week & posted slight losses. The pair stopped at 0.7559 levels. There are just 3 events this week on the calendar. In the US, some policymakers reiterated the hawkish bend of the recent rate decision, although other members expressed concern about low inflation levels. Down under, the RBA sounded upbeat about the economy but said that it had no plans to alter interest rate policy. 

 

Technically, the pair was opened the week at 0.7619 levels & touched an elevated of 0.7629 levels. The pair then reversed directions and dropped to a low of 0.7535 levels late in the week, breaking resistance at 0.7519 levels. The support was held firm at 0.7591 levels. The pair ended the week at 0.7559 levels. AUDUSD remains NEUTRAL.

 

NZDUSD placed solid range in the support levels at 0.7256 last week, but the pair is in down channel close to the resistance levels. The resistance was held at 0.7056 levels. Earlier week we mentioned the pair was in an alteration mode for the reason of long-term upward channel which is on the resistance line & after that the pair was in descending moment was in short-term nearly 0.7056 levels. NZDUSD remains BEARISH.

 

USDJPY dipped had a tough start to the week but petered out later on. The pair has been descending as eagerness from the Fed’s hawkishness was replaced by disbelief.  Last week we mentioned the pair was in upside moment above the resistance line nearly jumps 150 pips. This week the pair was continuing its momentum for the reason of quick resistance held at 111.90 levels.  After a strong breakout the pair was in a constant superior to reach the previous high levels. USDJPY remains BULLISH.

 

GBPUSD fell almost 2 cents throughout the week, earlier than rebounding & closing the week down 70 points as we discussed. The pair clogged the week down 70 pips, concluding at the 1.27 lines. There are 7 events on the schedule. 

 

The BoE was in the headlines previous week, as Governor Mark Carney’s caution against rate increases sends the pound sharply lower. Carney was disagreeing with by MPC member Ande Haldane, who supposed he was in good turn of raising rates. The Fed persists to sound hawkish, as policymakers reiterated the positive message from the June rate statement. 

 

GBPUSD unlocked the week at 1.2773 levels & quickly jumped to a high of 1.2814 levels. The pair then upturned directions & fell to a low of 1.2588 levels, testing support levels at 1.2616 levels discussed previous week.  The pair ended the week at 1.2704 levels. GBPUSD remains BULLISH. 

 

USDCAD gained 50 points previous week, as the pair closed at 1.3264 levels. This week’s significant event is GDP. As we discussed last week the resistance level reached and altered his direction. The pair was moving to the next target level will be 1.13016 which is currently act as a strong resistance. USDCAD remains BEARISH.