Daily Forex Analysis - 14th June 2021

USD Overview (14 June 2021)

Last Friday, USD strengthened against all major currencies.

The Preliminary UoM Consumer Sentiment data (Actual: 86.4, Forecast: 84.1, Previous: 82.9 revised from 82.8) released last Friday indicated an increase in the level of optimism from the surveyed respondents view of the current and future U.S. economic conditions.

NZD/USD Outlook (14 June 2021)

Overall, NZD/USD is ranging across. Recently, NZD/USD broke below the key level of 0.72 and bounced off the support zone of 0.71000.

NZD/USDs next support zone is at 0.71000 and the next resistance zone is at 0.72850.

Look for buying opportunities of NZD/USD.

AUD/USD Outlook (14 June 2021)

Overall, AUD/USD is ranging across. Recently, AUD/USD trended down into the key level of 0.77.

Most Australian banks will be closed today in observance of the Queens Birthday. Expect lower trading volatility and volume during the usual Australian market hours.

The Reserve Bank of Australia (RBA) will be releasing the minutes for the previous monetary policy meeting tomorrow at 0930 (GMT+8).

Currently, AUD/USD is testing to break below the key level of 0.77. Its next support zone is at 0.75500 and the next resistance zone is at 0.78000.

Look for selling opportunities of AUD/USD if it breaks below the key level of 0.77.

USD/JPY Outlook (14 June 2021)

Overall, USD/JPY is trending upwards.

USD/JPYs next support zone is at 108.500 and the next resistance zone is at 110.800.

Look for buying opportunities of USD/JPY.

EUR/USD Outlook (14 June 2021)

Overall, EUR/USD is ranging across. Recently, EUR/USD broke the support zone of 1.21500.

EUR/USDs next support zone is at 1.19700 and the next resistance zone is at 1. 21500.

Look for selling opportunities of EUR/USD.

GBP/USD Outlook (14 June 2021)

Overall, GBP/USD is ranging across. Recently, GBP/USD trended down into the key level of 1.41.

Bank of England Governor Bailey will be speaking later at 2100 (GMT+8). During this time, there may be volatility in GBP.

Currently, GBP/USD is hovering above the key level of 1.41. Its next support zone is at 1.40000 and the next resistance zone is at 1.43500.

Look for short-term selling opportunities of GBP/USD if it breaks below the key level of 1.41.

USD/CAD Outlook (14 June 2021)

Overall, USD/CAD is ranging across. Recently, USD/CAD broke the resistance zone of 1.21000.

USD/CADs next support zone is at 1.21000 and the next resistance zone is at 1.22400.

Look for short-term buying opportunities of USD/CAD.

GBP/JPY Outlook (14 June 2021)

Overall, GBP/JPY is trending upwards.

Bank of England Governor Bailey will be speaking later at 2100 (GMT+8). During this time, there may be volatility in GBP.

Currently, GBP/JPY is testing the resistance zone of 155.000 and the next support zone is at 153.000.

Look for selling opportunities of GBP/JPY if it bounces off the resistance zone of 155.000.

EUR/JPY Outlook (14 June 2021)

Overall, EUR/JPY is ranging across. Recently, EUR/JPY trended into the support zone of 132.800.

Currently, EUR/JPY is testing the support zone of 132.800 and the next resistance zone is at 134.300.

Look for selling opportunities of EUR/JPY if it breaks the support zone of 132.800.