Important Day Ahead for US Dollar Both Fundamentally and Technically
- EURUSD drop below $1.1200 would put $1.1075 on the map.
- USDJPY needs to retake daily 8-EMA before downtrend is over.
- See the June forex seasonality report.
Important data is being released as many USD-pairs sit at technical crossroads. A US strong consumption report for May would help the greenback piggyback on the strong May US labor market data, providing concrete evidence that Q2'15 GDP prospects were improving after only a 'transitorily' weak Q1'15.
See the above video for technical considerations in EURUSD, USDJPY, and the USDOLLAR Index.
Read more: How Far Do EUR/JPY, USD/JPY Pullbacks Run?
--- Written by Christopher Vecchio, Currency Strategist
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