U.S Retail Sales Up 0.4% In Jun. USD Follows!

Forex -6595845 -656

The U.S Retail Sales (MoM) (Jun) stands at 0.4%, from 0.4% a month earlier, passing a forecast of 0.1% in the last month. Core retail sales also stand at 0.4% as the previous month, passing a forecast of 0.4%. This development supported the USD against most of the major currencies.

EURUSD: The pair is bearish in the short-term outlook. Resistance comes at 1.1245 levels. Stability below this level on a 4-hour closing basis will keep the pair under pressure. Support comes at 1.1185 levels. A halt is likely. it may test 1.1208 before another fall. Anyway; below 1.1185 aims the 1.1160 levels. Furthermore, support comes at 1.1130 levels.

On the upside, resistance comes at 1.1245 levels. A break will turn outlook neutral and test 1.1285 levels. Above 1.1285 will turn the outlook bullish to 1.1320 levels ahead of 1.1360 levels.

In Conclusion: The EURUSD sees downside threats below 1.1245 levels in the short-term outlook.

Support: 1.1208, 1.1185, 1.1160, 1.1130, 1.1100

Resistance: 1.1245, 1.1285, 1.1320, 1.1360, 1.1390

GBPUSD: Under Heavy Pressure!

The pair comes under heavy pressure today before U.K jobs report as well as U.S retail sales data due to the problems related to the Brexit. U.S data makes things worse than before…

According to the 4-hour chart. The pair is very bearish. immediate resistance comes at 1.2455 levels. Stability below this level will keep pushing on the 1.2420 levels. A cut below this level aims the 1.2375 levels. Next support comes at 1.2325 levels.

On the upside. Resistance comes at 1.2455 levels. A break will turn the outlook neutral for testing 1.2500/1.2540 levels. Next resistance comes at 1.2585 levels.

In conclusion: The GBPUSD remains under heavy pressure as long as trades below 1.2455 levels…

Support: 1.2420, 1.2375, 1.2325, 1.2290, 1.2250

Resistance: 1.2455, 1.2510, 1.2540, 1.2585

USDJPY: For almost a month. The was unable to break below the key support 107.75… Resistance comes at 108.45 levels. A break will aim the 109.00 levels. On the downside. Below 107.75 sess a fall risk to 107.15 levels.

Conclusion: The pair continues to consolidate within 107.75/109.00 range…

Support: 107.75, 107.15, 106.60, 105.87

Resistance: 108.45, 109.00, 109.59, 110.50

Don’t miss out, Fed Chair Powell Speaks today at 17:00 GMT almost after 60 min.