Upcoming data prints will be very important with the U. of Michigan Consumer Sentiment and Employment Cost Index (ECI) today. We continue to like EURUSD lower especially if the data delivers. Our favorite commodity currency shorts are AUD and CAD. We are also still short EURGBP.
{EU} EURUSD Lower => We like the pair lower from here throughout later in the summer. We find support at 1.0895 (yesterday’s low), resistance at 1.0990.
{JN} USDJPY Long => We are still neutral in the pair with key levels of the session: Resistance toward 125 (psychological level), with support coming in 123.54 (yesterday’s lows).
{GB} GBPUSD Neutral => We still like EURGBP lower. In GBPUSD we have 1.5520/28 as a support level with resistance at 1.5691. EURGBP key support in the cross now at 0.6930 with resistance area topside 0.7040/60.
{NZ} NZDUSD Lower => We still like to be short here with key levels for the session: Resistance at 0.6560 and support at 0.6560 with 0.6498/6500 below
{AU} AUDUSD Lower => We still favor the pair lower with key levels for the session: 0.7352 resistance and 0.7255 as support on the downside.
{CA} USDCAD Higher => We like the pair higher with important technical levels: support levels at 1.2960, with 1.3065 and 1.3103 the resistance area.
{SZ} USDCHF Higher => We like the pair higher with key technical levels: support at the 200dma 0.9532. Resistance above lies at 0.9720.
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