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Currency Pairs Analysis Today.
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[QUOTE="forum forex, post: 209549, member: 78402"] [HEADING=1]June-15, 2022, Daily currency trading analysis and forex market forecast, by forex forum.[/HEADING] [IMG alt="Daily currency trading analysis, june-15, 2022"]https://www.forum.forex/attachments/daily-currency-trading-latest-analysis-and-forex-market-forecast-1-copy-jpg.2891/[/IMG] The British pound gained some ground on Wednesday and trimmed five days of consecutive losses after reaching a 2-year low at around 1.1935. However, the GBP/USD stages a recovery and is back above the 1.2000 mark, trading at 1.2092, up by 0.81% at the time of writing. Positive sentiment and lower US Treasury yields, a tailwind for GBP/USD The pullback in US Treasury yields weighed on the greenback against the pound. The US 10-year Treasury yield is sliding five bps, at 3.418%. Meanwhile, the US Dollar Index, a measure of the buck’s value against some peers, records minimal losses of 0.06%, down at 105.411. [B]EUR/USD[/B] The EUR/USD is falling on Wednesday, trading at daily lows near 1.0380 ahead of the Fed’s decision. The US dollar is posting mixed results while the euro is falling across the board weakened after the European Central Bank emergency meeting. The EUR/USD awaits the outcome of the two-day Fed meeting trading at daily lows and looking at the May bottom of 1.0345/50. The mentioned area is a key support that if broken could open the doors to 1.0300 and below. Also, the area could trigger a rebound. Resistance levels might be located at 1.0420 and then 1.0490/1.0500. [HEADING=2][B]USDCHF[/B][/HEADING] As the market awaits the FOMC decision at 2 PM ET, the USDCHF is trading near its highs for the day and for the week just reached 1.00297. The high price yesterday extended to 1.0036. Looking at the hourly chart, the price action initially moved to the downside in the Asian session, and in doing so entered within a wide swatch of swing highs and lows that was developed between May 9, and May 18. That area comes between 0.9961 and 0.99937. The price low extended to the low of that swing area at 0.9961, where support buyers did show up and push the price back to the upside. [B]AUD/USD[/B] AUDUSD currency pair recently reversed up from the key support level 0.6850 (which stopped the earlier sharp downward impulse wave 1 in the middle of May). The upward reversal from the support level 0.6850 is likely to create the daily Japanese candlesticks reversal pattern Bullish Engulfing – a strong buy signal for this currency pair. Given the oversold daily Stochastic, AUDUSD can be expected to rise further toward the next round resistance level 0.7000. [HEADING=3]XAU/USD[/HEADING] Gold found some bids this morning after the week’s significant drop towards $1800/oz. The U.S. dollar being one such influence is trading marginally lower thus boosting gold prices ahead of the Fed’s interest rate decision later this evening (see calendar below). Retail sales will serve as a precursor to the Fed rate decision and we could see anything higher than 0.2% could add to the already hawkish narrative, leading to a stronger dollar and weaker gold. [B]Russian rouble[/B] The Russian rouble was down slightly in Wednesday trading, while stocks gained ground, shielded from the widespread global sell-off of recent days by Moscow's capital controls. At 1330 GMT, the rouble shed 0.5% against the dollar at 56.89 and was down 0.3% to trade at 59.35 against the euro. Thank You [/QUOTE]
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