Summary: Tian Hongliang, a special analyst for XM Group, provides a technical outlook for major forex pairs, gold, and indices for June 10. Key levels for EURUSD and XAUUSD are highlighted amid current market trends.
The US Dollar Index faced resistance at 100.10 on Tuesday, finding support at 99.65. The technical structure suggests the dollar could maintain a bearish bias on rebounds, with downside targets at 99.70-99.50.
EURUSD Technical Outlook
The Euro remains supported after finding bids at 1.1525 and facing resistance at 1.1580. If the pair holds above 1.1525 on today's pullback, the upside targets are 1.1580-1.1605. Intraday resistance stands at 1.1575-1.1580, while support holds at 1.1525-1.1530. A break below 1.1505 could signal further weakness.
XAUUSD Gold Trading Strategy
Gold prices encountered resistance at 4364 and support at 4236 on Tuesday. After pulling back, the metal shows potential for upside continuation. If gold holds above 4216 today, targets point to 4344-4417. Key resistance lies at 4339-4344, with major resistance at 4412-4417. Support levels are at 4216-4221, followed by 4163-4168.
GBPJPY & Cross Rates
GBP/USD can be bought in the 1.3345-1.3455 range, with stops on a break below 1.3305. USD/JPY continues to show buying interest, with support at 160.10 and resistance at 160.70.
Other Currency Pairs
USD/CHF: Sell on rallies within 0.7930-0.8000 range.
AUD/USD: Buy on dips at 0.7000-0.7100 range.
USD/CAD: Sell on rallies at 1.3895-1.3975 range.
Reference: Compiled from Tian Hongliang's June 10 major currency short-term trading guide via Hexun.com and Cnfol.com.