Technical Analysis:Your Daily Dose of Market Insights, June 16, 2023

Headlines:

- Weaker US dollar made oil more affordable for buyers, supporting positive sentiment in the market.

- Federal Reserve maintains borrowing costs but signals higher likelihood of future rate increases, raising concerns about economic growth.

- European Central Bank raises euro zone borrowing costs to combat high inflation, indicating potential for further rate increases.

- Bank of Japan maintains ultra-easy monetary policy to support fragile economic recovery despite stronger-than-expected inflation.

- Market outlook reflects a mix of optimism from China's stimulus measures and cautiousness due to concerns over higher interest rates.

Key event today:

• US University of Michigan consumer sentiment

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Dollar Index (DXY) Intraday:

Pivot Level: 102.53

Regulated Brokers

Gold Intraday:

Pivot Level: 1935.82

USD/JPY Intraday:

Pivot: 140.57

AUD/USD Intraday

Pivot: 0.6847

Crude Oil (WTI)‎ Intraday

Pivot: 70.14

USD/CAD Intraday:

Pivot: 1.3263

EUR/USD Intraday:

Pivot: 1.090

GBP/USD Intraday:

Pivot: 1.273

EUR/GBP Intraday:

Pivot: 0.8566

Nasdaq 100 Intraday

Pivot:

15,120.74

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