By Orbex
USDCHF to test resistance
The US dollar rises as traders seek safe haven amid tensions in Ukraine. The pair is grinding up along a rising trendline from support at 0.9180.
A series of higher lows suggests strong buying interest. A break above the intermediate resistance at 0.9275 may boost buyers’ confidence further.
0.9310 is the next hurdle and its breach would bring the greenback to the double top (0.9370) on the daily chart. On the downside, the trendline is the closest support, and then 0.9180 is a critical level to keep the short-term rally intact.
GBPJPY tests demand zone
Free Reports:
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Sign Up for Our Stock Market Newsletter – Get updated on News, Charts & Rankings of Public Companies when you join our Stocks Newsletter
The pound may find support from Britain’s upbeat GDP in Q4. A break above January’s high at 157.70 suggests that the bulls have reclaimed control of price action.
The next challenging task is to push above last October’s peak at 158.20. This would resume the uptrend in the medium term.
In the meantime, a combination of profit-taking and fresh selling is driving the price towards 155.20. Sentiment would remain steady as long as the sterling met bidders in this demand area.
US 30 seeks support
The Dow Jones 30 struggled as white-hot US inflation fanned fears of aggressive rate hikes.
Nonetheless, a break above the 30-day moving average on the daily chart indicates improved market sentiment. An overbought RSI prompted momentum traders to exit.
A fall below 34820 would suggest lingering hesitation among market participants and shake out weak hands. The bulls may see a pullback towards 34500 as a buying opportunity. The rebound may only resume if the price lifts offers around 35400.
Article by Orbex
Orbex is a fully licensed broker that was established in 2011. Founded with a mission to serve its traders responsibly and provides traders with access to the world’s largest and most liquid financial markets. www.orbex.com
- Oil prices fall back to pre‑war levels. Silver drops to a 7‑month low Jun 25, 2026
- Gold Falls to an Eight-Month Low: This May Not Be the Bottom Jun 25, 2026
- Stock indices came under heavy selling pressure amid growing skepticism about AI investments Jun 24, 2026
- The Pound Is Pressured Not by Politics, but by a Strong US Dollar Jun 24, 2026
- Global crude oil prices continued to decline. The AUD/USD exchange rate hit an 11‑week low Jun 23, 2026
- EUR/USD Remains Under Sellers’ Control as the Dollar Stays Strong Jun 23, 2026
- Gold Falls for the Third Consecutive Week: Is There Still Upside Potential? Jun 22, 2026
- Bank Indonesia raised its interest rate. Norges Bank and the SNB left rates unchanged Jun 19, 2026
- EUR/USD Loses Ground as Market Sentiment Favours the US Dollar Jun 19, 2026
- GBPUSD Awaits Bank of England Meeting Near April Lows Jun 18, 2026
