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June 17, 2021

USD- Hottest Market Moves

Frank Cabibi

6/17/2021

Yesterday afternoon, the Fed announced that they would raise interest rates twice by 2023 suggesting a stronger demand for the US dollar.

USDCHF 4H

USDCHF is our hardest mover this morning reaching up to +0.85% at the time of writing this, and similar to USDCAD, the pair is right up against some heavy resistance on the 4H. There could be a potential pullback from recent highs, but a retest on highs will likely happen if price doesn't break resistance on the first try.

NZDUSD 4H

Down 0.73% on the morning, NU breaks out under a wedge and falls onto support around 0.70043 which appears to be a key level. Price will likely see further downside, but it could also come up and test resistance around 0.70428. The biggest level of support on this chart is where price bottomed at 0.69420.

EURUSD 4H

EU getting crushed under the weight of the USD and the power of interest rates. Price has fallen to resistance 1.19205 and doesn't look like it wants to hold at this level. Lots of setups going on, and it looks like short entries are good a most resistance levels and breakout levels such as this current one.

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