Gold and Oil early American session's drops have fueled the USD strengthening despite US Stocks opened higher. Gold collapses from 963.90 to 949.85 in the early American morning as well as oil barrel, which it falls below 70.50 level from 71.50.
According to Valeria Bednarik, FXstreet.com collaborator, Stocks retrieve most of early gains together with gold and oil that gave up some ground too, changing the intra-day bias, and sending dollar up across the board: "Pair made a nice come back from the 97.20 lows, and is facing first important resistance at 98.30, a short term descendant trend line coming for 98.90 highs. New candle opening above that zone, will send the pair to test a longer term one around 98.60. Supported by CCI cutting the 0.00 line and price above the 20 SMA yet contained by the strong selling level around 99.00, expect more rises once first line is cleared. Bigger time frames are slowly changing bias, and the bullish perspective will remain valid, as long as the pair holds above the 97.00 zone."
USD/JPY (Jun 10 at 17:47 GMT)
98.35/38 (0.98%)
H 98.39 L 97.06
| S3 | S2 | S1 | R1 | R2 | R3 |
| 98.0082 | 98.1155 | 98.2228 | 98.4373 | 98.5445 | 98.6518 |
| [?]Trend Index | [?]OB/OS Index |
| Strongly Bullish | Neutral |
| Data updated on Jun 10 at 17:45 (15-minute timeframe) | |
