EUR/USD

On Tuesday session EUR/USD tried to push higher, topped at $1.1111, but closed lower at $1.1064.
Short-term expectations seem to be neutral. But strong resistance is seen at $1.12 (200-day EMA) and as long as the pair is staying below it, a further decline towards support levels at $1.09 and $1.07 will most likely occur.
On the other hand if observe the weekly development, it is clearly seen an upward movement from the open price at $1.1010 towards the 50% Fibonacci retracement at $1.1167 and even to the more important level at $1.1223 (61.80%).  We should keep in mind that the macro agenda for tomorrow offers CPI data release and the pair might head to the topside.
Anyway tomorrow’s closing price will be fuelled by additional volatility due to the month/Q2 end match. 

USD/JPY omitted the Brexit vibe

While the Brexit aftershock still choke the markets, the USD/JPY pair omitted this vibe and performed quite well since the beginning of the week. Yet this short-term rally can not clearly define whether the daily uptrend is going to continue further on or a broader retracement is about to develop.
During today’s session the pair for a while meandered gently near the support line located at ¥101.42, but refused to dive deeper. This level could push the pair to test lower support values, but the focus was set above the ¥102 mark.
The intraday high was booked at ¥102.84, very close to the key resistance at ¥102.94. This level should be considered as a significant trendline, as until the beginning of June it acted as a strong support. As long as the pair is located below, the trend is still bearish.

     Chart USD/JPY H4

GBP/USD nailed new record low

During the last 12 months the GBP/USD plummeted with 16.20%. In June 2015 the pair fascinated the market participants reaching $1.57 and booked its highest level for this chapter. On Friday the sterling plunged to $1.34 seeing the shocking “leave” vote.
Albeit rather slowly, it was considered that this drift of the circumstances is already digested and new panic attack obsessed the market.
Today GBP/USD for shortly tested the $1.32 level, followed a breakthrough of $1.3226, Friday’s low and a fresh new low since September 1985 was pinned at $1.3119.
Technically speaking, as long as the pair is staying under $1.40, bears are mastering the trend.

    Chart GBP/USD H4

USD/JPY below ¥100

Brexit knocked down the USD/JPY pair. Initially, during the early trading hours, when the market participants still digested the UK electoral vote, the pair soared to ¥106.81. But shortly afterwards the pair collapsed to ¥98.77, which is its lowest level since November 2013. For the past week the pair notably dropped with around 25% and moved below ¥100 mark.
Until the price is staying within the bearish channel (drawn from the August high to the November high) is hard to say whether bulls will appear soon.
Short-term resistance is seen at ¥106.47, which coincides with the May opening range bottom. The Friday’s low, marked at ¥98.77 should be considered as support. Next support level is located at ¥94.75, the 61,8 % Fibo.

Silver boosted on Brexit

The Brexit vote boosted XAG/USD and silver pinned fresh new high at $18.29, which is the highest level since January 23th. On Friday XAG/USD was trading around  $17.75, marking an intraday high at $18.29 and bottom at $17.06.
In the early trading hours we witnessed a correction at the level of the 20-day SMA, but the pair coundn’t near the support at $17.15. The intraday trend continued in stong bullish sentiment, confirmed by the MACD and the 20, 50 and 200 SMA, which are heading upwards.
XAG/USD closed at $17.707 an bulls are likely to test the key resistances located respectively at $17.84, $17.99 and $18.17. Strong support is located at $16.83 (200-day SMA). 

GBP/USD: Sterling rockets to 1.49 handle

Today is a crucial day for the future of Europe and the European Union as we know. Regardless of the choice of voters in Britain one thing is clear - Europe and the UK will not be the same. Election Day came and l hope Britons to judge righteously.

The latest polls show that the “Remain” campaign is leading with 4% based on surveys conducted yesterday. GBP/USD was trading in narrow range, around the levels from previous session and the sterling marked slight increase against the dollar.

Right after the release of the data from the latest poll, the pair leaped to fresh highs to record highest level since December 2015.
As seen on the H4 chart, GBP/USD broke through the first resistance located at $1.46825 and now is flying towards the key level at $1.49, where is located the next resistance. Support levels are located at $1.4370 and $1.14088.
The pair is staying above 20, 50 and 100-day MA, which is showing continuation of the upward movement and meanwhile acting as supports.
The stochastic and RSI are indicating overbought conditions, but still favor the bulls.

                                Chart: GBP/USD H4

NZD/USD trending higher

Since last Sunday, when lates polls showed that Bremain sentiment prevails and most probably United Kingdom will not leave the European Union, the apetite for riskier stocks and higher yielding currencies increased significantly. Seems like the kiwi cheered at this scenario and NZD/USD is boosted.
In the early hours today the pair was indecisive and trading lower. At noon the pair conquered the resistance level at $0.7170, where was marked yesterday’s high.
Current support level is located at $0.7173, standing together with the 5-day moving average. Immediate resistance level is seen at $0.7172 and should the pair break trough it, bulls next target is $0.7202.
The Relative Strenght Index is facing upwards with the momentum indicator also trending higher.
The current outlook is bullish with expectations for booking new 1-yr highs.

                                Chart: NZD/USD H4