(3 votes)

Last Updated Date: 1 June 2021 @ 6:26 AM (UTC)
*Please note that all the dates are in GMT time zone

The dollar was down on Tuesday morning in Asia after China tightened its banks’ forex requirements to curb the appreciation of the yuan. Investors also await key U.S. economic data to gauge the country’s economic outlook.

Trade is into a sideways situation for today, leaving the market on the balance level between bull / bear trend forces. A close over 1.2230 implies rallies to 1.2260- 1.2280. A close over 1.2280  is bullish. Be prepared for additional near term dips and consolidation back inside Monday’s range, but trade should try to hold near 1.200. A close under 1.2141 (SAR) is bearish.

Resistance 2      1.2265
Resistance 1      1.2245

Support 1           1.2200
Support 2           1.2180


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