Remain flat. | 15 June 2023

Technical observation

USD rose to the resistance level 141.47 as I had anticipated but did not break above it, instead it bounced at the same line and since then it has been trading with an increasing bearish bias. Today I expect a continuation of this downward movement and my advice is, remain flat and wait for a correction to the supportive zone 139.00-139.11 to buy USD with your take profit at 141.47 and stop-loss at 138.42, a further surge to the upper side can be expected in case of a clear break above the level 141.47, on the other hand, I expect bearish movements of this pair if the price penetrates below the zone 139.00-139.11.

Trade recommendation

Remain flat.