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Market Analysis 28th June 2023

EURUSD

EURUSD moves higher on Tuesday and moves above our 20-period moving average as expected. Currently EURUSD running at 1.0952 just below our resistance level.

At the time of writing, the four-hour Stochastic indicator is moving lower after exited the overbought level, the price is moving above the 20-period moving average. We are expected that EURUSD will move higher for today and try to reach our resistance level at 1.0982.

Resistance: 1.0982, 1.1034

Support: 1.0892, 1.0803

GOLD

Gold moves higher in the early session on Tuesday and reach our resistance level at $1,928 as expected, but unable to hold on and moves lower and break our support level at $1,921 in the US session. Gold currently is running at $1,914 just above our next support level.

At the time of writing, the four-hour Stochastic indicator is trying to cross back higher just at the edge of the oversold area, the price is moving below the 20-period moving average. We expect that Gold will move higher for today and try to reach our new resistance level at $1,921.

Resistance: $1,921, $1,928

Support: $1,912, $1,903

GBPUSD

GBPUSD moves slightly higher on Tuesday and able to break above our tight resistance level at 1.2727 as expected. Currently, GBPUSD is trading at 1.2732.

As of this writing, the four-hour Stochastic indicator is moving higher and trying to cross back lower at the edge of the overbought area, the price is moving just above the 20-period moving average. We expect GBPUSD to slightly higher for today and try to reach above our next resistance level at 1.2773.

Resistance: 1.2773, 1.2836

Support: 1.2694, 1.2618

SPXUSD

SPXUSD moves higher on Tuesday and able to break above our resistance level at 4349 as expected. SPXUSD currently is running at 4368.

As of this writing, the four-hour Stochastic indicator is moves higher but trying to cross back lower just at the edge of the overbought area, the price is moving above the 20-period moving average. We expect that SPXUSD might moves slightly lower for today and reach back to our 20-period moving average and support level around 4349.

Resistance: 4381, 4404

Support: 4349, 4332

USOUSD

USOUSD (WTI) moves lower on Tuesday as expected and able to break our support levels at 69.14 and 68.26. Currently USOUSD is running at 67.86.

As of the time of writing, the four-hour Stochastic indicator is moving lower entering the oversold area, the price is still moving below the 20-period moving average. We expect that USOUSD to continue to move lower for today and try to reach our support level at 66.93.

Resistance: 68.28, 69.10

Support: 67.56, 66.93

Key events for Today:

AUD    Consumer Price Index

GBP    BOE Gov Bailey Speaks

JPY    BOJ Gov Ueda Speaks

USD    Fed Chair Powell Speaks