INTRADAY TECHNICAL ANALYSIS 5 JUNE (observation as of 4:00 UTC)

[EURUSD]

Important Levels to Watch for:

-        Resistance line of 1.1365 and 1.1492

-        Support line of 1.1200 and 1.1146.

Commentary/ Reason:

-        EURUSD has broken the boundary of a rising parallel channel, and still in bullish uptrend.

-        Stochastic oscillator reading showing an overbought range.

-        RSI value is more than 70 indicating that the chart is becoming overvalue.

EURUSD

 

[USDCHF]

Important Levels to Watch for:

-        Resistance line of 0.9568 and 0.9600

-        Support line of 0.9543 (recent low) and 0.9500 (1-month low).

Commentary/ Reason:

-        Stochastic and RSI oscillators reading movement toward overvalue range.

USDCHF

 

[GBPUSD]

Important Levels to Watch for:

-        Resistance line of 1.2633 and 1.2712.

-        Support line of 1.2519 and 1.2452.

Commentary/ Reason:

-        Price has broken the boundary of a rising parallel channel.

-        Stochastic oscillator reading showing an oversold range.

-        The pair is trading above its 200 and 50 Moving Averages.

GBPUSD