Forex trading plan for June 24
US durable goods orders figures released today were mixed. On the one head, core reading increased after previous decline, but on the other head, headline figure came out much lower than expected. Still, the overall sentiment about the American currency is positive as the FOMC member Powell gave hawkish comments saying that the, who suggested liftoff could come as soon as September.On Wednesday the US will release final Q1 GDP reading. A revision from -0.7% to -0.2% is expected. The expectations may provide the greenback with further support.
EUR/USD slid to 1.1170 despite improved manufacturing activity in the euro area. Support is at 1.1150 and 1.1070/50. European and Greek authorities will keep negotiating on Wednesday with the aim to reach a critical compromise by the end of the day, so expect market-moving news and announcements. German Ifo business climate is due at 08:00 GMT.
The outlook for British pound looks negative after it Support for GBP/USD is at 1.5700 and 1.5640. Resistance is at 1.5815 and 1.5900. USD/JPY has resistance levels at 124.13, 124.44/60 and 125.00. Support is at 123.20/00 and 122.45.