EUR/CHF Extending Decline, Aussie and Kiwi Soft
Action Insight Daily Report 6-24-22

EUR/CHF Extending Decline, Aussie and Kiwi Soft

Overall, the forex markets are pretty much staying in range, except for a few. Aussie and Kiwi are the weaker ones for the week, as weighed down by negative sentiment, as well as falling commodity prices But Dollar isn't too far behind, following the pull back in treasury yields. Swiss Franc and Sterling are the relatively stronger ones, together with Euro. Gold is trading in range while oil price is gyrating lower. Stocks lack committed buying for a sustainable rebound.

Technically, EUR/CHF is extending recent fall from 1.0512 but there is no follow through selling yet. Near term outlook is bearish for retesting 0.9970 low. But break of 1.0214 resistance will bring another rebound to the sideway pattern from 0.9970. The next move in EUR/CHF could be indicative to what next for EUR/USD and EUR/GBP.

In Asia, at the time of writing, Nikkei is up 1.10%. Hong Kong HSI is up 1.64%. China Shanghai SSE is up 0.58%. Singapore Strait Times is up 0.33%. Japan 10-year JGB yield is down -0.0046 at 0.231. Overnight, DOW rose 0.64%. S&P 500 rose 0.95%. NASDAQ rose 1.62%. 10-year yield dropped -0.088 to 3.068.

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Top Movers | HeatMap | Pivot Points | Pivot Meters | Action Bias | Vol

USD/CAD Daily Outlook

Daily Pivots: (S1) 1.2949; (P) 1.2984; (R1) 1.3030; More...

Intraday bias in USD/CAD remains neutral for consolidation below 1.3077. With 1.2859 minor support intact, further rise remains in favor. On the upside, break of 1.3077 and sustained trading above 1.3022 fibonacci level will carry larger bullish implications. Next target is 100% projection of 1.2005 to 1.2947 from 1.2401 at 1.3343.

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EURJPY | EURGBP | EURCHF | EURAUD | GBPJPY

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