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Scalp Webinar: NFP Fails to Spur USD Breakout- June Range Remains Key

Scalp Webinar: NFP Fails to Spur USD Breakout- June Range Remains Key

2015-06-08 19:33:00
Michael Boutros, Strategist
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Talking Points

USDOLLAR Daily

Scalp Webinar: NFP Fails to Spur USD Breakout- June Range Remains Key

Chart Created Using FXCM Marketscope 2.0

Technical Outlook

  • USDOLLAR sets initial June opening range at 11880-12037
  • Bias remains bearish while within this formation (~1200)
  • Break below 11880 targets support objectives at the ML / 11839/43, backed by 11790
  • Daily RSI reversal at 60- (bearish) – now testing support at 50- break would be bearish
  • Key Event Risk Ahead: US Advanced Retail Sales on Thursday & University of Michigan Confidence on Friday.

AUDUSD Daily

Scalp Webinar: NFP Fails to Spur USD Breakout- June Range Remains Key

Notes: Aussie starts the week just above key support at 7590-7604 with momentum continuing to hover just above 40. Look for resistance at the ML extending off the April / May highs (~7700) with a breach above keeping the near-term focus higher towards 7737 & the 78-handle. A break sub-7590 puts the short-side back into play targeting objectives at the yearly low, the 61.8% extension off the highs at 7469 and the median-line confluence down into 7360. Keep in mind we have employment data out of Australia on Thursday.

For setups throughout the week subscribe to SB Trade Desk

Relevant Data Releases

Scalp Webinar: NFP Fails to Spur USD Breakout- June Range Remains Key

Other Setups in Play:

---Written by Michael Boutros, Currency Strategist with DailyFX

Follow Michaelon Twitter @MBForex,contact him at mboutros@dailyfx.com or Click Here to be added to his email distribution list

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