Remain flat | 24 June 2021

Technical observation

USD has been declining steadily towards the supportive zone 110.51-110.47, this bearish movement is a correction to the zone I have mentioned above and I expect a loss of it within the same zone for possible bullish movements of price. My advice, remain neutral and wait for a correction to the zone 110.51-10.47 and a rejection within it to buy USD with your take profit at 111.09. As long as price is contained above the zone I have mentioned above, I can only recommend bullish positions for this pair. However, in case of a clear breakout below the zone with a big red candle, I expect possible bearish movements towards the supportive level 109.79.

Trade recommendation

Remain neutral.