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    Technical analysis of EUR/USD for June 20, 2016

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    Overview:

    • The market opened above the support of 1.1236 and the gap was around 65 pips. So, the EUR/USD pair continues to move upwards rising to the top around 1.1381 from the level of 1.1306. Right now, the first resistance level is seen at 1.1408 followed by 1.1515, while daily support 1 is seen at 1.1236. According to the previous events, the NZD/USD pair is still moving between the levels of 1.1236 and 1.1408; for that we expect a range of 172 pips (1.1408 - 1.1236) in coming days. If the NZD/USD pair fails to break through the resistance level of 1.1408, the market will decline further to 1.1236 in order to test the weekly pivot. But this would not suggest a bearish market because the RSI indicator is still in a positive area and does not show any trend-reversal signs. The pair is expected to rise higher towards at least 1.1408 with a view to reach the first resistance.

    Intraday technical levels:

    • R3: 1.1515
    • R2: 1.1408
    • R1: 1.1343
    • PP: 1.1236
    • S1: 1.1171
    • S2: 1.1064
    • S3: 1.0999

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