Daily Forex Analysis - 30th June 2021

USD Overview (30 June 2021)

Yesterday, USD strengthened against most major currencies except JPY.

The Conference Board Consumer Confidence data (Actual: 127.3, Forecast: 118.9, Previous: 120.0 revised from 117.2) released yesterday indicated an increase in the level of optimism from the surveyed respondents on the U.S. economy.

The ADP Non-Farm Employment Change data (Forecast: 555K, Previous: 978K) will be released later at 2015 (GMT+8).

FOMC member Bostic will be speaking later at 2000 (GMT+8).

Also, FOMC member Barkin will be speaking tomorrow at 0100 (GMT+8).

During these times, there may be volatility in USD.

NZD/USD Outlook (30 June 2021)

Overall, NZD/USD is trending downwards.

The New Zealand Building Consents m/m data (Forecast: NA, Previous: 4.8%) will be released tomorrow at 0645 (GMT+8).

Currently, NZD/USD is testing to break below the key level of 0.70. Its next support zone is at 0.69500 and the next resistance zone is at 0.71000.

Look for short-term selling opportunities of NZD/USD if it breaks below the key level of 0.70.

AUD/USD Outlook (30 June 2021)

Overall, AUD/USD is trending downwards. Recently, AUD/USD moved into the support zone of 0.75000.

Currently, AUD/USD is testing the support zone of 0.75000 and the next resistance zone is at 0.76500.

Look for short-term selling opportunities of AUD/USD if it breaks the support zone of 0.75000.

USD/JPY Outlook (30 June 2021)

Overall, USD/JPY is trending upwards. Recently, USD/JPY failed to break above the resistance zone of 110.800.

Currently, USD/JPY is moving towards the resistance zone of 110.800 and the next support zone is at 108.500.

Look for short-term selling opportunities of USD/JPY if it bounces off the resistance zone of 110.800.

EUR/USD Outlook (30 June 2021)

Overall, EUR/USD is trending downwards. Recently, EUR/USD broke below the key level of 1.19.

The German Preliminary CPI m/m data (Actual: 0.4%, Forecast: 0.4%, Previous: 0.5%) released yesterday indicated continued rise in inflation in June albeit at a slightly lower rate than in May.

The eurozone CPI flash estimate y/y data will be released later at 1700 (GMT+8).

- CPI Flash Estimate y/y (Forecast: 1.9%, Previous: 2.0%)

- Core CPI Flash Estimate y/y (Forecast: 0.9%, Previous: 1.0%)

Currently, EUR/USD is testing to break above the key level of 1.19. Its next support zone is at 1.18500 and the next resistance zone is at 1.20000.

Look for short-term selling opportunities of EUR/USD if it fails to break above the key level of 1.19.

GBP/USD Outlook (30 June 2021)

Overall, GBP/USD is trending downwards. Recently, GBP/USD bounced off the support zone of 1.38000

Bank of England MPC member Haldane will be speaking later at 1900 (GMT+8). During this time, there may be volatility in GBP.

GBP/USDs next support zone is at 1.38000 and the next resistance zone is at 1.40000.

Look for short-term buying opportunities of GBP/USD.

USD/CAD Outlook (30 June 2021)

Overall, USD/CAD is trending upwards.

The Canadian GDP m/m data (Forecast: -0.8%, Previous: 1.1%) will be released later at 2030 (GMT+8).

Currently, USD/CAD is testing to break above the key level of 1.24. Its next support zone is at 1.22600 and the next resistance zone is at 1.24800.

Look for short-term buying opportunities of USD/CAD if it breaks above the key level of 1.24.

GBP/JPY Outlook (30 June 2021)

Overall, GBP/JPY is ranging across. Recently, GBP/JPY broke the support zone of 153.800.

Bank of England MPC member Haldane will be speaking later at 1900 (GMT+8). During this time, there may be volatility in GBP.

GBP/JPYs next support zone is at 151.000 and the next resistance zone is at 153.800.

Look for selling opportunities of GBP/JPY.

EUR/JPY Outlook (30 June 2021)

Overall, EUR/JPY is ranging across. Recently, EUR/JPY broke the support zone of 132.000.

The German Preliminary CPI m/m data (Actual: 0.4%, Forecast: 0.4%, Previous: 0.5%) released yesterday indicated continued rise in inflation in June albeit at a slightly lower rate than in May.

The eurozone CPI flash estimate y/y data will be released later at 1700 (GMT+8).

- CPI Flash Estimate y/y (Forecast: 1.9%, Previous: 2.0%)

- Core CPI Flash Estimate y/y (Forecast: 0.9%, Previous: 1.0%)

Currently, EUR/JPY is moving towards the resistance zone of 132.000 and the next support zone is at 130.000.

Look for selling opportunities of EUR/JPY if it bounces off the resistance zone of 132.000.