Daily Market Analysis By FXOpen

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AUD/USD & NZD/USD Aim Steady Increase

AUD/USD started a decent increase above the 0.6450 and 0.6500 levels. NZD/USD is also rising and might aim for more gains above 0.6080.

Important Takeaways for AUD USD and NZD USD Analysis Today

• The Aussie Dollar rebounded after forming a base above the 0.6400 level against the US Dollar.
• There is a connecting bullish trend line forming with support at 0.6510 on the hourly chart of AUD/USD at FXOpen.
• NZD/USD is consolidating gains above the 0.6030 zone.
• There is a key bullish trend line forming with support at 0.6030 on the hourly chart of NZD/USD at FXOpen.

AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from the 0.6450 support. The Aussie Dollar was able to clear the 0.6500 resistance to move into a positive zone against the US Dollar.

There was a close above the 0.6500 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6535 zone. A high was formed near 0.6533 and the pair recently started a consolidation phase.

There was a move below the 0.6520 level. The pair dipped below the 23.6% Fib retracement level of the upward move from the 0.6489 swing low to the 0.6533 high.

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Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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USD/CAD Holds Near 2025 Low

When we last analysed the USD/CAD chart on 4 June, we identified a descending channel that remains relevant.

On 5 June, the pair reached a new low for 2025, and it is possible that bears will attempt to extend this move further over the course of the month.

Why is USD/CAD declining?
The Canadian dollar appears to be strengthening amid speculation that a trade agreement between the US and Canada could be finalised soon — possibly on 15 June, when the G7 summit is due to be held in Canada.

Media reports highlight several indicators supporting this view:
→ Prime Minister Mark Carney stated that Canada will meet its NATO spending target of 2% of GDP.
→ Canada refrained from retaliatory tariffs on steel and aluminium.
→ The US ambassador to Canada confirmed that “secret” negotiations are ongoing.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Market Flat Ahead of US Inflation Data

Major currency pairs — particularly GBP/USD and USD/JPY — are showing sideways movement following Friday’s mixed US labour market data. While non-farm payrolls rose to 139,000, above the forecast of 126,000, weaker industrial employment (–8,000) and a steady unemployment rate of 4.2% dampened market response. A 0.4% increase in average hourly earnings also failed to give the dollar a strong push, maintaining uncertainty over the Federal Reserve’s next steps.

Today, investors will focus on the release of US Consumer Price Index (CPI) data for May. Core CPI is forecast to rise by 2.5%. The report may significantly affect the short-term direction of the dollar and trigger increased volatility in major currency pairs.

Technical Analysis of USD/JPY

The USD/JPY pair is holding around 144.90, reflecting a neutral market sentiment ahead of a block of key US macroeconomic data. The lack of fresh catalysts from the Japanese economy is contributing to the pair’s consolidation near current levels.

Technical analysis of USD/JPY suggests potential growth towards the 146.20–145.40 zone, as a Stick Sandwich candlestick formation has appeared on the daily timeframe. A clear drop below 144.00 would invalidate the scenario of a bullish correction.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Tesla (TSLA) Shares Rebound After Sharp Drop

When analysing the Tesla (TSLA) stock price chart six days ago, on the morning of 5 June, we:
→ highlighted Elon Musk’s critical comments regarding the spending bill promoted by the US President;
→ noted that a potential rift between Musk and Trump could have long-term implications, including for TSLA shares;
→ outlined an ascending channel (marked in blue);
→ suggested that the price might correct from the upper to the lower boundary of the channel.

This scenario played out rather aggressively: later that same day, during the main trading session, Tesla’s share price dropped sharply to the lower boundary of the channel amid a scandal involving Musk and Trump.

However, the lower boundary of the channel predictably acted as support. Yesterday, TSLA shares were among the top five performers in the S&P 500 index (US SPX 500 mini on FXOpen), gaining around 5.6%.

As a result, TSLA stock price climbed back above the psychologically important $300 mark, recovering from the previous week’s sell-off.

Why Are Tesla (TSLA) Shares Rising?
Bullish drivers include:
→ The upcoming launch of Tesla’s robotaxi service, provisionally scheduled for 22 June. Elon Musk has stated he intends to use the service himself.
→ Easing of tensions with the US President. Donald Trump declared that he has no intention of "getting rid of Tesla or Starlink" should he return to the White House.
→ Continued support from Cathie Wood, the prominent asset manager, who once again reaffirmed her confidence in Tesla’s future success.[/img]

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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What Are the Benefits of Demo Trading?

Demo trading has become an indispensable tool for traders to test out their skills and gain experience before entering the real market. In this article, we’ll look at the benefits of demo trading, including its ability to help traders develop discipline, improve decision-making skills, and reduce emotional strain.

What Is Demo Trading?

VIEW FULL ANALYSIS VISIT - FXOpen Blog...

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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S&P 500 Maintains Uptrend — But for How Long?

As the chart of the S&P 500 (US SPX 500 mini on FXOpen) shows, price movements in June continue to form an upward trend (highlighted in blue).

The bullish momentum is being supported by:
→ News of a potential trade agreement between the United States and China;
→ The latest inflation report. Data released yesterday showed that the Consumer Price Index (CPI) slowed from 0.2% to 0.1% month-on-month.

President Donald Trump described the inflation figures as “excellent” and said that the Federal Reserve should cut interest rates by a full percentage point. In his view, this would stimulate the economy — and serve as another bullish driver.

However, as illustrated by the red arrow, the index pulled back yesterday from its highest level in three and a half months, falling towards the lower boundary of the channel. This decline was triggered by concerning developments in the Middle East. According to media reports, the US is preparing a partial evacuation of its embassy in Iraq, following statements by a senior Iranian official that Tehran may strike US bases in the region if nuclear talks with Washington fail.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

 

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Intel (INTC) Shares Drop Over 6% in a Day

As shown on the Intel (INTC) chart, after Tuesday’s candle closed above $21, the price dropped sharply on Wednesday. INTC was the worst-performing stock of the day among the components of the S&P 500 index (US SPX 500 mini on FXOpen).

Why Did INTC Shares Fall?
The decline is linked to growing competitive pressure. According to media reports:

→ On one hand, AMD continues to rapidly expand its share of the server CPU market. A report by Mercury shows that the company already controls 40% of the segment and could match Intel as early as next year.
→ On the other hand, Nvidia is preparing to launch two accelerated processing units (APUs) for the consumer market, which will combine CPU and GPU capabilities in a single product.

TO VIEW THE FULL ANALYSIS, VISIT FXOPEN BLOG

Disclaimer: This article represents the opinion of the Companies operating under the FXOpen brand only (excluding FXOpen EU). It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.