The recent downswing in EUR/USD seemed to have been halted in the area between the 50.0% (1.1255) and the 61.8% (1.1219) Fibonacci levels, reflecting the ascent from May 30th low to June 9th high. At the start of the US trading session the major pair sharply advanced to an intraday high of 1.1294, which comes in proximity to the 38.2% Fibonacci.
After tumbling to an intraday low of 1.4116, also a level unseen since April 14th, GBP/USD strongly rebounded to the area around 1.4300 during the early phase of the US trading session on oversold 14-period Relative Strength Index on the H4 time frame. The major pair may encounter resistance at the 4-hourly 20-period Exponential Moving Average (1.4348). Markets now expect ICMs poll on Brexit.
USD/CAD bounced from an intraday low of 1.2763 and remained supported at the 20-period EMA on the H4 time frame. However, the major remains below its weekly (1.2807) and monthly (1.2914) Pivots, after only overshooting the daily range resistance level (R3) at 1.2820.
Gold futures for August delivery reached a fresh 1-month high at $1,290.05 per troy ounce (a level unseen since May 6th) during late European trade. Resistance may be encountered next at the daily R3 level ($1,291.87), the upper Bollinger band on the daily time frame and the weekly R2 level ($1,304.13).
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