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technical analysis report

23 Jun 2022 02:58 PM

EURUSD

The EUR/USD pair is moving within a descending channel range and tested the support level of 1.0350 before rebounding back to 1.0515. The pair could edge higher and extend slightly to 1.0650.

If the pair moves back towards the support level of 1.0350 and breaches it, the slide will likely continue towards the level of 1.0200.

GBPUSD

The British pound fell to the support level of 1.2170 and succeeded in rebounding from it to the upside. If the pair could maintain trading above it, the rise could be extended to 1.2350-1.2460.

Failure to do so, the pair could move south towards the support level of 1.2170. A breakthrough may push the pair towards 1.2040-1.2000 levels next.

USDJPY

The dollar-yen pair faced the resistance level of 136.70 and retreated slightly from it to test the support level of 135.40, which, if broken, may extend the decline to the level of 134.50.

But if it maintains the support of 135.40, it may rise to test the resistance of 136.70.

USDCFH

The pair were moving within a descending channel range and tested the upper limit at 0.9680 and is likely to rebound lower from this level to test the support levels 0.9620 - 0.9550.

But if the pair surpasses the resistance of 0.9700, its stability above it may contribute to the extension of the rise to 0.9750/80.

USDCAD

The pair bounced from the support level of 1.2900 and is currently facing the resistance of 1.30. If it remains above it, the rise may extend to levels of 1.3070.

But if it fails to surpass the resistance of 1.3070, it may retreat to test the support of 1.2900. By breaking it, the decline may extend to 1.2850.

AUDUSD

The AUD/USD pair fell from the 0.7000 resistance as the decline is likely to extend to the level of 0.6840.

From the top side, if bulls were able to retake control, resistance levels await them near 0.6950 - 0.7000. a successful attempt to breach these levels may give more room higher towards the level of 0.7050.

Gold

Gold retreated from the resistance level of $1847, and the decline will likely extend to test the support 1820, which, if broken, the price may extend its fall to 1805 levels.

But if it maintains to trade above the support 1820, it is likely to rise to test the resistance of 1847, which by surpassing it may extend the rise to the level of 1860 dollars.

Silver

Silver prices retreated and broke the support level of  21.30. The decline is likely to extend to 20.50 levels.

Resistance levels are 21.50 - 22.00.

WTI

Oil retreated, broke the 106.00 support, and edged lower towards the $103.00 level. Trading above the 103 could prompt traders to push the price and retest the 106.00.

But if the 103.00 support is broken, this may contribute to an extension of the drop to levels of $98.00.

The Dow Jones

The Dow Jones index is moving within a descending channel range and is now trading near the support level of 30000, which represents the lower boundary of the descending channel. A possible break of this level may force the index to extend the slide towards the level of 29500 and then 29000.

Resistance levels 30600 - 31000.

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