Daily Forex Analysis - 28th June 2021

USD Overview (28 June 2021)

Last Friday, USD weakened against most major currencies except GBP.

The Revised UoM Consumer Sentiment data (Actual: 85.5, Forecast: 86.5, Previous: 86.4) released last Friday indicated a slight downward revision in the surveyed consumers view on the economic conditions in the U.S.

FOMC member Williams will be speaking later at 2100 (GMT+8). During this time, there may be volatility in USD.

NZD/USD Outlook (28 June 2021)

Overall, NZD/USD is trending downwards.

Currently, NZD/USD is moving towards the resistance zone of 0.71000 and the next support zone is at 0.69500.

Look for short-term selling opportunities of NZD/USD if it bounces off the resistance zone of 0.71000.

AUD/USD Outlook (28 June 2021)

Overall, AUD/USD is trending downwards. Recently, AUD/USD failed to break above the key level of 0.76.

It was announced last Friday that Australias New South Wales region has reimposed COVID-19 restrictions until 2 July due to an evolving outbreak in that region.

Currently, AUD/USD is moving towards the key level of 0.76. Its next support zone is at 0.75000 and the next resistance zone is at 0.76500.

Look for short-term selling opportunities of AUD/USD if it bounces down from the key level of 0.76.

USD/JPY Outlook (28 June 2021)

Overall, USD/JPY is trending upwards.

The Japanese Unemployment Rate data (Forecast: 2.9%, Previous: 2.8%) will be released tomorrow at 0730 (GMT+8).

Also, the Japanese Retail Sales y/y data (Forecast: 7.9%, Previous: 11.9%) will be released tomorrow at 0750 (GMT+8).

Currently, USD/JPY is testing the resistance zone of 110.800 and the next support zone is at 108.500.

Look for buying opportunities of USD/JPY if it breaks the resistance zone of 110.800.

EUR/USD Outlook (28 June 2021)

Overall, EUR/USD is trending downwards.

EUR/USDs next support zone is at 1.18500 and the next resistance zone is at 1.20000.

Look for selling opportunities of EUR/USD.

GBP/USD Outlook (28 June 2021)

Overall, GBP/USD is trending downwards. Recently, GBP/USD broke below the key level of 1.39.

Bank of England MPC member Haldane will be speaking later at 2000 (GMT+8). During this time, there may be volatility in GBP.

Currently, GBP/USD is moving towards the key level of 1.39. Its next support zone is at 1.38000 and the next resistance zone is at 1.40000.

Look for short-term selling opportunities of GBP/USD if it bounces off the key level of 1.39.

USD/CAD Outlook (28 June 2021)

Overall, USD/CAD is trending upwards.

USD/CADs next support zone is at 1.22600 and the next resistance zone is at 1.24800.

Look for buying opportunities of USD/CAD.

GBP/JPY Outlook (28 June 2021)

Overall, GBP/JPY is ranging across. Recently, GBP/JPY moved into the support zone of 153.800.

Bank of England MPC member Haldane will be speaking later at 2000 (GMT+8). During this time, there may be volatility in GBP.

Currently, GBP/JPY is testing the support zone of 153.800 and the next resistance zone is at 156.000.

Look for short-term buying opportunities of GBP/JPY if it bounces off the support zone of 152.800.

EUR/JPY Outlook (28 June 2021)

Overall, EUR/JPY is ranging across.

Currently, EUR/JPY is testing the support zone of 132.000 and the next resistance zone is at 134.000.

Look for buying opportunities of EUR/JPY if it bounces off the support zone of 132.000.