Remain neutral | 23 June 2020

Technical observation

USD declined up to the supportive line 106.65 but did not break below it. If you sold this pair within the resistance zone 109.83-109.67 at the line 106.65 was the ideal place to pick your profits. Right now USD is trading above the line 106.65 with an increasing bullish bias. This bullish movement is a correction to the resistance zone 109.83-109.67 and I expect a loss of it within the zone for possible bearish movements. My advice, right now remain neutral and wait for a correction to the zone 109.83-109.67 and a rejection within it to re-sell USD with your take profit at 106.65 and stop loss at 110.72.

Trade recommendation

Remain neutral.