Intraday Forex Wednesday, June 30 (EURUSD, USDJPY, etc.) Major currencies subdued, awaited the U.S. jobs data later in the week.


Hi everyone. This observation is made around 5:15 UTC today, with 30 minutes time frames. The Resistance and Support Line were constructed according to Fibonacci retrenchment. Any discussion is welcomed.

Global equities were higher on Wednesday as investors reacted to the release of several mixed economic data from Asian and U.S. Although the concerns of the Delta variant of COVID-19 kept investors on edge.
Gold set to post their worst month since Nov 2016.
Oil slipped on slower fuel demand growth.

Meanwhile, the dollar were under pressure on Wednesday as the spread of Delta variant of COVID-19 challenged confidence in economic recoveries globally.
The market's awaited on the U.S. jobs data due on Friday that is seen as crucial to the Fed's monetary policy outlook.

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  • The euro was last at $1.18998, up slightly from opening today, after fell 0.22% overnight, as it edged back toward the 2½-month low of $1.8474 touched on June 18.​
  • The euro was weighted by comments late Monday from ECB Vice President Guindos that fuelled speculation the ECB might maintain its euro-negative stimulus measures.​
  • The dollar found safe-haven support as concern grows that more countries will need to reimpose pandemic lockdowns as the dangerous Delta COVID-19 variant spreads throughout the world.​
  • Signs of a tight labour market kept many investors fretting over wage-driven price pressures. Friday's payroll data is a key focus - with economists expecting an increase of 675,000 jobs. Some reckoning on the dollar falling back into a downtrend if the jobs data passes without surprise.​
  • The EUR/USD has flattened mid-range between the 1.186 and 1.195 price levels, though noting the return of some buyers in early trading. The pair could be consolidating within the current trading range.​
Important Levels to Watch for:​
  • Resistance line of 1.19352 and 1.19558.​
  • Support line of 1.18684 and 1.18478.​

  • The Japanese yen firming slightly at 110.499 per dollar.​
  • Both the U.S. dollar and yen have benefited from some safe-haven demand, driven by concerns over the spread of the highly contagious COVID-19 Delta variant.​
  • Dollar gave up modestly and turned lower after the yen strengthened when T-note yields fell back from their best levels.​
  • The U.S. dollar held on the sidelines ahead of Friday's jobs report.​
Important Levels to Watch for Today:​
  • Resistance line of 110.999 and 111.193.​
  • Support line of 110.371 and 110.177.​

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