An overview of the current performance of major currencies like Euro, British Pound, US Dollar, Japanese Yen, Australian Dollar, and Swiss Franc, alongside insights into the losses reported by Bitcoin, Ethereum, and Ripple in the cryptocurrency market. Analysts emphasize the significance of economic indicators and global events in shaping these market trends.
Currency Market Overview & Brief Analysis
The Euro (EUR) currently shows a slow upward trend, trading between 1.0680 and 1.0785, with a notable resistance level at 1.0785. Analysts note that it has retracted slightly to 1.0776 following a minor upswing, maintaining a cautious trading range of 1.0710 to 1.0760.
The British Pound (GBP) remains within the range of 1.2345 to 1.2440, facing difficulty in surpassing the resistance at 1.2440. Growth is expected, targeting higher resistances at 1.3170 and 1.3100, with minor support at 1.3075 should it fall below 1.3040.
The US Dollar (USD) is trading between 1.0034 and 1.0139, showing short-term stability but meeting resistance at 1.0139.
The Japanese Yen (JPY) trades within a narrow band from 108.35 to 108.90. Despite showing potential upward movement, it has not breached the resistance at 108.90. Downward movement is supported at 103.85, with additional resistances at 104.25 and 104.40.
The Australian Dollar (AUD) shows signs of a slight upward trend but struggles to exceed its upper limit at 0.6450, trading between 0.6350 and 0.6450.
The Swiss Franc (CHF) is anticipated to move sideways, hitting resistances around 0.8965 and 0.9000, with minor support at 0.8945 if it drops below 0.8920.
In the cryptocurrency market, Bitcoin, Ethereum, and Ripple have all reported losses of 1.05%, 1%, and 0.5% respectively. Investors are closely observing the upcoming US ADP Research Institute’s June job report, along with other global indicators affecting cryptocurrency prices.
Overall, economic indicators and global events remain critical in influencing the trajectories of these currencies and cryptocurrency values.
