16th June 2015 – Technical Outlook

AUD/USD 

FROM HERE:  buy on dips around 0.7720 to target 0.7800 and above

BUT: below 0.7700 may take the pair back to range trading mode

COMMENT:  looks like Aussie is trending higher highs in an orderly fashionStay long above 0.7700

NEXT DATA RELEASE: 

Tues 11:30am AUD    Monetary Policy Meeting Minutes    (F)    (P) 

 cT_cs_1000262_AUDUSD_2015-06-16_08-15-18

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
0.7594 0.7638 0.7720 0.7763 0.7791 0.7817 0.7862

 


USD/JPY 

FROM HERE:  similar to yesterday: range trade 123.00 – 124.00 with bias on downside.

BUT:  can consider going short below 123.00 but wouldn’t go long above 124.00

COMMENT: for the long term: remain short as long as we don’t see above 125.00

NEXT DATA RELEASE: 

Tues JPY    no date release expected today  (F)  (P) 
  10:30pm USD    Building Permits 1.11M 1.14M

 cT_cs_1000262_USDJPY_2015-06-16_08-16-51

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
122.00 122.44 123.18 123.40 123.83 124.24 125.00

 

 

EUR/USD 

FROM HERE:  buy on dips around 1.1212 to target above 1.1330

BUT:  consider adding to longs above 1.1387. Stay neutral below 1.1187

COMMENT:  looks like bulls are showing that they want to be in charge today

NEXT DATA RELEASE: 

 Tues Tentative EUR    European Court of Justice Ruling   (F)        (P)
  7:00pm    German ZEW Economic Sentiment 37.5 41.9
     ZEW Economic Sentiment  (med impact)  60.3  61.2

 cT_cs_1000262_EURUSD_2015-06-16_08-18-05

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
1.1150 1.1187 1.1212 1.1280 1.1330 1.1367 1.1385

 


GBP/USD 

FROM HERE: buy on dips around 1.5580 area to target above 1.5650 at least

BUT:  square up below 1.5500 and re-assess

COMMENT:  should give bulls the chance to rally today. Chart suggests it should.

NEXT DATA RELEASE: 

 Tues 6:30pm GB    CPI y/y  (med impact)   0.1%  (F)         -0.1% (P)
     PPI Input m/m  (med impact) 0.7% 0.4%
         RPI y/y 1.1% 0.9%

 cT_cs_1000262_GBPUSD_2015-06-16_08-19-48

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
1.5432 1.5490 1.5586 1.5600 1.5613 1.5666 1.5698

GBP/USD 

FROM HERE: remain short and sell 1.5260 to target 1.5176 then 1.5087

BUT: above 1.5350 may trigger stops which may drive it to next resistance level of 1.5384

COMMENT:  can’t see any reason to buy Cable at the moment STILL

NEXT DATA RELEASE: 

 Tues  6:30pm GBP    Construction PMI 55.1  (F)  54.2  (P) 
     Net Lending to Individuals m/m  (med impact) 2.3B 3.1B

 cT_cs_1000262_GBPUSD_2015-06-02_10-37-14

3rd Support 2nd Support 1st Support SPOT 1st Resistance 2nd Resistance 3rd Resistance
1.5041 1.5087 1.5176 1.5200 1.5260 1.5336 1.5387

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