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Market Analysis 13th June 2023

EURUSD

EURUSD moved slightly higher on Monday and able to reach our resistance level as expected. EURUSD currently running at 1.0763 slightly below our resistance level.

At the time of writing, the four-hour Stochastic indicator is consolidating in the middle, the price is still moving above the 20-period moving average. We are expected that EURUSD will move higher and try to reach our resistance levels at 1.0800.

Resistance: 1.0768, 1.0800

Support: 1.0721, 1.0686

GOLD

Gold moves lower on Monday and able to reach our support level as expected. Gold currently is running at $1,959 just above the support level at $1,955.

At the time of writing, the four-hour Stochastic indicator is moving higher in the middle, the price is moving just at the 20-period moving average. We expect that Gold will move slightly higher for today and reach our above resistance level at $1,972.

Resistance: $1,972, $1,982

Support: $1,955, $1,939

GBPUSD

GBPUSD able to move lower on Monday and reach our support level as expected. Currently, GBPUSD is trading at 1.2521.

As of this writing, the four-hour Stochastic indicator is crossing back higher just around the oversold area, the price is moving below the 20-period moving average. We expect GBPUSD to slightly higher to reach our 20-period moving average.

Resistance: 1.2585, 1.2651

Support: 1.2464, 1.2398

SPXUSD

SPXUSD continue to move higher and able to break our resistance level at 4321 as expected. SPXUSD currently is running at 4339.

As of this writing, the four-hour Stochastic indicator is moving higher entering the overbought area, the price is moving above the 20-period moving average. We expect that SPXUSD might moves in narrow range but try to move lower to reach our support level at 4319.

Resistance: 4353, 4392

Support: 4319, 4292

USOUSD

USOUSD (WTI) moves lower and able to break our support levels as expected. Currently USOUSD is trading at 67.49 just above our new support level at 67.17.

As of the time of writing, the four-hour Stochastic indicator is moving just at the edge of the oversold area, the price is now moving below the 20-period moving average. We expect that USOUSD to move slightly lower and try to break below our support levels at 67.17.

Resistance: 69.42, 71.71

Support: 67.17, 64.99

Key events for today:

GBP    Claimant Count Change

USD    Consumer Price Index m/m

USD    Consumer Price Index y/y

USD    Core Consumer Price Index m/m

GBP    BOE Gov Bailey Speaks