{"id":64550,"date":"2023-06-19T10:50:46","date_gmt":"2023-06-19T07:50:46","guid":{"rendered":"https:\/\/ironfx-com-php8.wp-dev.int.theitops.net\/?p=64550"},"modified":"2024-07-10T17:26:27","modified_gmt":"2024-07-10T14:26:27","slug":"riskier-asset-bulls-take-a-breather","status":"publish","type":"post","link":"https:\/\/www.ironfx-id.com\/nl\/riskier-asset-bulls-take-a-breather\/","title":{"rendered":"Riskier asset bulls take a breather"},"content":{"rendered":"<p>The USD tended to gain some ground against its counterparts on Friday as the bullish momentum for riskier assets such as commodity currencies and the US equities markets seems to have paused briefly. Yet we still view it as a bullish market and fundamentals including the recent visit of US Foreign Secretary Blinken to China, in an effort to mend the US-Sino relationships, allowed for some optimism to surface and fundamentals are expected to lead the way for the markets today. Should the developments continue to be on the positive side we may see riskier assets such as the Aussie getting some support. Yet Aussie traders besides the ongoing developments in the US-Sino relationships may keep an eye out also for the release of RBA\u2019s June meeting minutes during tomorrow\u2019s Asian session.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe title=\"RBA June meeting minutes due  in  tomorrow\u2019s Asian session\" width=\"750\" height=\"422\" src=\"https:\/\/www.youtube.com\/embed\/h6_G8LfNQyE?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>AUD\/USD corrected lower and during today\u2019s Asian session tested the 0.6835 (S1) support line. Despite the correction lower we tend to maintain our bullish outlook as long as the upward trendline incepted since the 31<sup>st<\/sup> of May remains intact. Should the bulls maintain control over the pair we may see AUD\/USD breaking the 0.6895 (R1) resistance line and aim for the 0.6960 (R2) level. Should the bears take over, we may see the pair reversing course, breaking the prementioned upward trendline as a first sign of an interruption of the upward movement, break the 0.6835 (S1) support line and aim for the 0.6770 (S2) support level.&nbsp;&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<p>At this point we should note that on Friday the release of the preliminary University of Michigan indicators for June implied an unexpectedly optimistic average consumer in the US which could allow for more spending in the US economy. Overall, as the market restarts its engines we expect the next series of central banks\u2019 interest rate decisions to garner interest among traders with UK\u2019s BoE being under the spotlight yet also Turkey\u2019s CBT may generate substantial interest as it is expected to reverse its loose monetary policy in a substantial pivot point towards more orthodox economic policies.&nbsp;&nbsp;<\/p>\n\n\n\n<p>EUR\/USD maintained a tight range bound motion on Friday, without even nearing the 1.1000 (R1) resistance line and the 1.0855 (S1) support level. We tend to maintain our bias for the sideways motion to continue, yet the RSI indicator remains near the reading of 70 implying a rather bullish market sentiment for the pair. Should the pair find extensive buying orders along its path, we may see EUR\/USD breaking the 1.1000 (R1) resistance line and aim for the 1.1175 (R2) level. Should a selling interest be expressed by the market we may see the pair dropping, breaking the 1.0855 (S1) support line and aim for the 1.0695 (S2) support level.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-other-highlights-for-the-day\"><strong>Other highlights for the day:<\/strong><\/h2>\n\n\n\n<p>In today\u2019s European session we note the planned speeches of ECB\u2019s Lane and Schnabel, while we also get from the UK Rightmove\u2019s House price growth rate for June. In the American session, we get Canada\u2019s May producer prices. During tomorrow\u2019s Asian session, we get Japan\u2019s revised industrial output for April.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-as-for-the-rest-of-the-week\"><strong>As for the rest of the week:<\/strong><\/h2>\n\n\n\n<p>On Wednesday we note the release of the UK\u2019s CPI rates for May and the CBI trends for industrial orders for June, while from Canada we get April\u2019s retail sales and from the Czech Republic CNB\u2019s interest rate decision. On Thursday we get New Zealand\u2019s GDP rate for May, the US weekly initial jobless claims figure and Eurozone\u2019s preliminary consumer confidence for June, while on the monetary front we note Fed Chairman Powell\u2019s testimony before Congress, the release of BoE\u2019s interest rate decision, while also note from Switzerland SNB\u2019s, from Turkey CBT\u2019s and from Norway, Norgesbank\u2019s interest rate decisions. On Friday we highlight the release of the preliminary June PMI figures of Australia, Japan, France, Germany, the Eurozone as a whole, the UK and the US, while we also note the release of Japan\u2019s CPI rates for May and UK\u2019s retail sales for April. <\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-eur-usd-h4-chart\"><strong>EUR\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"975\" height=\"456\" src=\"\/wp-content\/uploads\/2023\/06\/image-82.png\" alt=\"support at one point zero eight five five and resistance at one point one, direction sideways    \" class=\"wp-image-64551\" title=\"eur-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 1.0855 (S1), 1.0695 (S2), 1.0525 (S3)<\/p>\n\n\n\n<p>Resistance: 1.1000 (R1), 1.1175 (R2), 1.1370 (R3)<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-aud-usd-h4-chart\"><strong>AUD\/USD H4 Chart<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"975\" height=\"436\" src=\"\/wp-content\/uploads\/2023\/06\/image-83.png\" alt=\"support at zero point six eight three five and resistance at zero point six eight nine five, direction upwards   \" class=\"wp-image-64552\" title=\"aud-usd-four-hour-chart\"\/><\/figure>\n\n\n\n<p>Support: 0.6835 (S1), 0.6770 (S2), 0.6700 (S3)<\/p>\n\n\n\n<p>Resistance: 0.6895 (R1), 0.6960 (R2), 0.7025 (R3)<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"2000\" height=\"493\" src=\"\/wp-content\/uploads\/2023\/06\/image-84.png\" alt=\"\" class=\"wp-image-64553\" title=\"benchmark-19-06-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1051\" height=\"625\" src=\"\/wp-content\/uploads\/2023\/06\/image-86.png\" alt=\"\" class=\"wp-image-64555\" title=\"table-19-06-2023\"\/><\/figure>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1737\" height=\"989\" src=\"\/wp-content\/uploads\/2023\/06\/image-85.png\" alt=\"\" class=\"wp-image-64554\" title=\"morning-releases-19-06-2023\"\/><\/figure>\n\n\n\n<p class=\"translation-block\">If you have any general queries or comments relating to this article please send an email directly to our Research team at <a href=\"mailto:research_team@ironfx.com\" target=\"_self\">research_team@ironfx.com<\/a><\/p>\n\n\n\n<p>Disclaimer:<br>This information is not considered as investment advice or an investment recommendation, but instead a marketing communication. IronFX is not responsible for any data or information provided by third parties referenced, or hyperlinked, in this communication.<\/p>","protected":false},"excerpt":{"rendered":"<p>The USD tended to gain some ground against its counterparts on Friday as the bullish momentum for riskier assets such<\/p>","protected":false},"author":15,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-64550","post","type-post","status-publish","format-standard","hentry","category-uncategorized","blog-category-financial-news","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Riskier asset bulls take a breather<\/title>\n<meta name=\"description\" content=\"The USD tended to gain some ground against its counterparts on Friday as the bullish momentum for riskier assets such as commodity currencies\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ironfx.com\/nl\/wp-json\/wp\/v2\/posts\/64550\/\" \/>\n<meta property=\"og:locale\" content=\"nl_NL\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Riskier asset bulls take a breather\" \/>\n<meta property=\"og:description\" content=\"The USD tended to gain some ground against its counterparts on Friday as the bullish momentum for riskier assets such as commodity currencies\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.ironfx-id.com\/nl\/riskier-asset-bulls-take-a-breather\/\" \/>\n<meta property=\"og:site_name\" content=\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-19T07:50:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-10T14:26:27+00:00\" \/>\n<meta name=\"author\" content=\"IronFX Team\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/\"},\"author\":{\"name\":\"IronFX Team\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/#\\\/schema\\\/person\\\/6727476356d10030d1564b38f6e699b1\"},\"headline\":\"Riskier asset bulls take a breather\",\"datePublished\":\"2023-06-19T07:50:46+00:00\",\"dateModified\":\"2024-07-10T14:26:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/\"},\"wordCount\":776,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/#organization\"},\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"nl-NL\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/\",\"name\":\"Riskier asset bulls take a breather\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/#website\"},\"datePublished\":\"2023-06-19T07:50:46+00:00\",\"dateModified\":\"2024-07-10T14:26:27+00:00\",\"description\":\"The USD tended to gain some ground against its counterparts on Friday as the bullish momentum for riskier assets such as commodity currencies\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/#breadcrumb\"},\"inLanguage\":\"nl-NL\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/riskier-asset-bulls-take-a-breather\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Riskier asset bulls take a breather\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/#website\",\"url\":\"https:\\\/\\\/www.ironfx-id.com\\\/nl\\\/\",\"name\":\"Complete Turnkey Introducing Brokers (IB) Solution at IronFX\",\"description\":\"&quot;Our Introducing Brokers program offers competitive conditions tailored to our partners&#039; needs. 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