Daily Technical Analysis – June 28, 2016

Our preference: short positions below 1.1110 with targets @ 1.1010 & 1.0970 in extension.

Alternative scenario: above 1.1110 look for further upside with 1.1185 & 1.1300 as targets.

Comment: as long as 1.1110 is resistance, look for choppy price action with a bearish bias.

Our preference: short positions below 1.3470 with targets @ 1.3200 & 1.3110 in extension.

Alternative scenario: above 1.3470 look for further upside with 1.3680 & 1.3790 as targets.

Comment: the upward potential is likely to be limited by the resistance at 1.3470.

Our preference: long positions above 0.9720 with targets @ 0.9840 & 0.9900 in extension.

Alternative scenario: below 0.9720 look for further downside with 0.9660 & 0.9585 as targets.

Comment: the RSI is bullish and calls for further upside.

Our preference: long positions above 101.60 with targets @ 102.65 & 103.30 in extension.

Alternative scenario: below 101.60 look for further downside with 100.80 & 100.00 as targets.

Comment: the RSI is mixed with a bullish bias.