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Important Day Ahead for US Dollar Both Fundamentally and Technically

Important Day Ahead for US Dollar Both Fundamentally and Technically

Christopher Vecchio, CFA, Senior Strategist

Talking Points:

- 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

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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