- USD was knocked lower overnight on a weak retail sales figure, but partly recovered thereafter
- The pair ignores Kuroda’s comments, has been unable to extend gains
- Currently trades at 123.60, with immediate resistance at 123.74 (Session High Jul 14)
- 123.00 (Session Low Jul 14 and 4h 20 MA) offers support on the downside, breaks below could extend upto 122.75 (cloud top)
- Yellen’s testimony to Congress tonight in focus, where she is expected to leave the door open to a rate hike this year
- There’s also a batch of US data (PPI, industrial production and more) and there’s the Greek vote on the Eurogroup aid conditions
Resistance Levels: R1: 123.74 (Session High Jul 14)R2: 123.78 (61.8% Fibo 125.86-120.41)R3: 124.38 (Daily High Jun 24)Support levels:S1: 122.92 (Session Low Jul 14)S2: 122.55 (Hourly Low Jul 13)S3: 122.18 (Ichimoku Cloud Base)
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