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US dollar expected to trade within 102 - 105

Discussion in 'Fundamental Analysis' started by AllFXBrokers, Jul 13, 2016.

  1. AllFXBrokers

    AllFXBrokers Member Trader

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    GBPUSD and the USDJPY rallied yesterday, breaching $1.32 and 104Yen respectively as noted in yesterday’s commentary. Price action is likely to pause in the near term as investors wait for more clues. USDJPY is seen trading within 102 – 105 levels, while GBPUSD could be in a range within 1.30 and 1.32 with the potential to challenge previous resistance near 1.34. For gold, following the breakout below 1350, we expect near term declines to test 1327.50 support and eventually a slide back to 1300.

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