Forex Orders

There are a couple to take note of on the day, as highlighted in bold.

The first ones are for EUR/USD at 1.0650-60 and the 1.0700 mark. Both should play the role in limiting any material downside before the expiries roll off later today. But given how price action has been behaving, the one at 1.0700 should suffice barring any major surprise misses from the euro area PMI data later.

The next one is for USD/JPY at the 159.00 level. That might hold price action for a while but the pair is largely flow-driven right now with dip buyers not letting up. However, they will be up against potential Tokyo intervention with the pair already at its highest since the last time the MOF/BOJ intervened on 29 April.

And lastly, there is one for USD/CHF at the 0.8900 level. That could very well keep price action stickier close to the figure level before rolling off later in the day. That after the pair has struggled to build on the jump following the SNB yesterday.

For more information on how to use this data, you may refer to this post here.

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