Longer-term bulls eye a bullish extension from trendline support. has traveled between a low of 1.2395 and a high of 1.2499 so far while it attempts to correct higher late in the New York day. At the time of writing, the pair is trading at 1.2444 and is 0.16% higher. Markets are looking ahead to the central bank meetings with the Federal Reserve scheduled for June 14 and the next Bank of England meeting is scheduled for June 22.
Longer-term, we could have a scenario whereby the support holds and the bulls commit to target the 1.2580s-1.2680s as illustrated below:Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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