EURUSD: The pair moved higher after the FOMC rate decision, reflecting a weaker US dollar, and tested the earlier high near 1.15294. The price reached 1.15283—just shy of that earlier high —before rotating back lower to trade around 1.1512 currently. On the downside, the 200-hour moving average at 1.14907 remains a critical support level. A break and sustained move below that level would increase the bearish bias from a technical standpoint and have traders looking toward the 38.2% retracement of the move up from the May low. That level comes in at 1.14164. Conversely, a move above the session high would shift focus toward the 100-hour moving average at 1.15398. Breaking through that level would strengthen the bullish bias going forward. The high price yesterday reached 1.1578. The high price from last week reached 1.16297.
EURUSD technicals
GBPUSD: The high price for the GBPUSD moved up to test the highs for the day at 1.3475 which was just short of the high price for the day at 1.34755. The price is currently trading at 1.3448 off of that high level. The key level on the downside remains the 200 bar movie average on the four hour chart. That level comes in at 1.34345. The low of a swing level comes in at 1.3423. The low for the weekend the low from May 29 comes in near 1.3413. The price remains within a neutral area below 1.34729 and above the 200 bar movie average on the four hour chart at 1.34345.
USDJPY: The pair briefly dipped below the near-converged 100- and 200-hour moving averages between 144.41 and 144.48, reaching a session low of 144.32. However, buyers quickly stepped in, and the price has rebounded to 144.68. That puts it just above the 38.2% retracement of the decline from the May high, located at 144.603.
Price action around the moving averages and retracement level remains technically neutral, but with the pair now trading above all three key levels, the short-term bias tilts in favor of buyers—as long as the price can hold above those levels.
USDJPY technicals
USDCAD: The pair moved higher during the North American morning session, briefly trading above the top of a swing area near 1.36923, with the session high reaching 1.36952. After the FOMC rate decision, however, the price reversed lower, falling to a post-decision low of 1.36541.
The 200-hour moving average, currently at 1.3646, remains a key support level. A break and sustained move below that level would open the door for a test of the day’s low at 1.36337, which also roughly aligns with the low from June 5. A move below that zone would shift focus toward the 100-hour moving average, which currently comes in at 1.36119. On the top side, it would still take a move above 1.36858 and 1.36923 (and staying above) to increase the bullish bias and have traders looking toward the 38.2% retracement of the range since the May high. That level comes in at 1.3722.
USDCAD technicals
USDCHF: Following the FOMC rate decision, USDCHF initially moved lower, testing support near the 0.8155 swing level and the earlier session low. Buyers stepped in at that area, helping to push the price back higher. The pair is now trading above the 200-hour moving average at 0.81684, giving buyers a short-term advantage.
However, the recovery remains incomplete. To further strengthen the bullish bias, the price needs to ultimately move above the 38.2% retracement of the recent decline, which comes in at 0.8216. Holding above the 200-hour moving average keeps the door open for more upside, but a break above 0.8216 is needed to truly shift momentum back in favor of buyers.
USDCHF technicals
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