Forex Daily Forecast Jul 11 2019

EURUSD: Rebounds But Around Critical Resistance levels! GBPUSD: Recovers With Caution! USDJPY: Consildates With Upside Bias! AUDUSD: Sees Sideways Move... USDCAD: Recovery Sets To Continue Above 1.3050 levels!

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Dollar -Yen - 659545 (1)

EURUSD: Rebounds But Around Critical Resistance levels!

The EURUSD remains in a recovery mode. As long as 1.1205/1.1190 support holds on a daily closing basis. But the recovery above 1.1190 will face strong resistance at 1.1282 levels. Above 1.1282 will extend the corrective recovery to 1.1330 levels. Next resistance comes at 1.1365 levels.

On the downside. Immediate support comes at 1.1250 levels. A sustained break below that level would challenge the 1.1205/1.1190 levels. A halt is likely, but a cut through support will restore the downside momentum and pave the way to the 1.1160/1.1127 levels.

In conclusion: The EURUSD sees consolidation move within 1.1190/1.1282 range…

Support: 1.1250, 1.1205, 1.1190, 1.1160, 1.1127

Resistance: 1.1282, 1.1330, 1.1365, 1.1395

GBPUSD: Recovers With Caution!

The outlook in GBPUSD has turned neutral at the moment. Support comes at 1.2500 levels ahead of 1.2458 levels (main). Resistance comes at 1.2555 levels. A sustained break above 1.2555 will turn the focus on the 1.2647 levels. Next resistance comes at 1.2695 levels.

On the downside. Support comes at 1.2500 levels ahead of 1.2458 levels. Below 1.2458 will restore the downside momentum and aim the 1.2415 levels. Next support comes at 1.2355 levels.

In conclusion: The GBPUSD sees recovery threats above 1.2458/1.2500 levels with caution!

Support: 1.2500, 1.2458, 1.2415, 1.2355, 1.2285

Reisstance: 1.2555, 1.2647, 1.2695, 1.2745, 1.2800

USDJPY: Consildates With Upside Bias!

The USDJPY remains neutral with risk to the upside. As long as 107.75/108.45 support holds on a daily closing basis. Resistance comes at 109.00 levels. A break will restore the upside momentum and aims the 109.59 levels. Next resistance comes at 110.35 levels.

On the downside. Below 107.75 sees a fall risk to 107.15/106.60 levels.

Conclusion: The USDJPY sees sideways move with upside bias above 107.75 levels.

Support: 108.45, 107.75, 107.15, 106.60, 105.87

Resistance: 109.00, 109.59, 110.35, 110.73

AUDUSD: Sees Sideways Move…

The outlook in AUDUSD has turned neutral. Support comes 0.6925 levels while resistance comes at 0.7030 levels. Above 0.7030 will turn the focus on the 0.7060/0.7100 levels. Below 0.6925 sees a fall risk to 0.6875/0.6850 levels…

Support: 0.6925, 0.6875, 0.6850, 0.6800, 0.6750

Reisstance” 0.6990, 0.7030, 0.7060, 0.7100, 0.7138

USDCAD: Recovery Sets To Continue Above 1.3050 levels!

The USDCAD remains in a recovery mode as long as trades above 1.3050 support on a daily closing basis. Resistance comes at 1.3150 levels. A halt is likely, it may turn lower from here. However; above 1.3150 will extend the corrective recovery to 1.3228 levels. Next resistance comes at 1.3285 levels.

On the downside, support comes at 1.3075/1.3050 levels. A cut below support will restore the downside momentum and aims the 1.2975 levels. Next support comes at 1.2870 levels.

In conclusion: The USDCAD sees recovery threats above 1.3050 levels.

Support 1.3050, 1.2975, 1.2870, 1.2790, 1.2700

Resistance: 1.3150, 1.3228, 1.3285, 1.3365

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