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USD
EUR/USD
The Single currency lost ground to $1.1280 as a resurgence of the coronavirus in the United States and the return of lockdowns in some countries boosted safe-haven demand for the U.S. currency.
GBP/USD
The Sterling rose to three-week highs at $1.2555, strengthening on optimism that British and EU trade negotiators could find common ground at a dinner planned yesterday.
USD/JPY
The Japanese Yen keeps trading in a tight range around 107.50/dlr, following mixed economic data from Japan.
AUD/USD
The Aussie dollar slipped to $0.6941 after the country’s second-largest city Melbourne re-imposed lockdown measures to curb the outbreak.
USD/ZAR
The South African rand weakened to 17.14 against the greenback as worries over surges in coronavirus infections reactivated investor concerns about the economic impact of the pandemic.
USD/MUR
The USD/MUR climbed by 5cents to 40.25(selling) on the domestic market.
18:30 - USD - Crude Oil Inventories
From an Elliott Wave trading standpoint, USD/CHF indicates a violent recoil higher in compelling impulse Wave (3) trajectory on a test of support marked by the confluence of a former counter-trend support at Wave (2) at 0.9372 of June 11th, percolating since late March 2020. As we have continued to highlight, the trend USD/CHF remains bullish overall.
Looking at the hourly chart, the pair may propel into Wave (3) targeting 1.0084, which represents 100% Fibonacci projection of impulsive Wave (1) through corrective Wave (2). Peeking through 0.9553 of Wave (1) would further validate the upside momentum. On the flipside, a set-back of recent low at 0.9418, then 0.9372 would render the count obsolete. If the pair fails to clear the latter, it could catalyse an aggressive decline.
