Daily Technical Report: June 21, 2013

EUR/USD - European Session
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Following the drop on Thursday, the pair returned above 50% correction at 1.3225 with the kick-start of the European session. Stability above this level weakens negativity and might bring positivity back. Momentum indicators reflected negative bias.

The trading range was among the key support at 1.3115 and key resistance at 1.3385.

The general trend over short term basis was to the upside targeting 1.3600, as far as areas of 1.2970 remained intact.

GBP/USD
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The pair moved to the upside after managing to stabilize above 1.5465 again at 38.2% correction. Linear Regression Indicators were biased to the downside, and Stochastic attempted to crossover negatively.

The trading range was among key support at 1.5290 and key resistance at 1.5685.

The general trend over short term basis was to the upside as far as areas of 1.5150 remained intact, targeting 1.5975.

USD/JPY
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Linear Regression Indicator 34 managed to keep the positive bias, as it traded above 97.55 levels indicating the possibility of extending positivity.

The trading range was among key support at 95.50 and key resistance at 99.30.

The general trend over short term basis was to the downside as far as areas of 103.50 remained intact, targeting 93.50.

USD/CHF
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After the pair touched the previously broken harmonic support that turned to resistance, it dropped again proving the extemnsion of the AB=CD bearish harmonic affect on the pair.

The trading range was among key support at 0.9125 and key resistance at 0.9450.

The general trend over short term basis was to the downside stable at levels 0.9775 targeting 0.8860.

USD/CAD
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The pair moved sharply to the upside approaching resistance level 1.0420 but rebounded to the downside before touching it.


The trading range was between the key support at 1.0215 and the key resistance at 1.0475.

The general trend over short term basis was to the upside, with steady daily closing above levels 0.9800 targeting 1.0485.


AUD/USD
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The AUD/USD pair's downtrend ceased for a short period of time, perhaps in response to oversold signals the Relative Strength Index and Stochastic reflected. The pair will remain negatively biased as long as trades remain below 0.9560.

Expected trading range was between the key support at 0.9000 and the key resistance 0.9400.

Short-term trend was downside, targeting 0.9000 if 1.0000 remained intact.

NZD/USD
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The NZD/USD pair attempted to rise after touching zones surrounding the bearish channel's support however, Linear Regression Indicator 34 blocked these attempts.

Expected trading range was between the key support at 0.7525 and the key resistance 0.7885.
Short-term trend was downside targeting 0.7455 if 0.8200 remained intact.