US Dollar Index (DXY)
The DXY held firm around 99.17 on Monday as traders digested a surprisingly strong U.S. May jobs report before shifting focus to upcoming U.S.–China trade talks in London . Treasury yields steadied after their recent rise, reflecting investors cautiously awaiting May inflation data due later this week.
Technical Outlook:
With the index hovering near 99.17:
- Bullish Scenario: A break above 100.20 could pivot the index toward 101.85.
- Bearish Scenario: If it fails and dips below support at 99.00, focus turns to 97.70 next.
EUR/USD
The euro surged as concerns eased in sovereign credit markets and speculators bet on a dovish commentary from the ECB’s June 6 policy statement . It traded near 1.1425, maintaining around a one-month high.
Technical Outlook:
- Bullish Scenario: Staying above 1.1380 supports a run toward 1.1484 and 1.1666.
- Bearish Scenario: A drop under 1.1300 would open the path to 1.1143.
USD/JPY
The yen strengthened slightly after Japanese data showed a more modest contraction than expected, while U.S. data pushed the dollar higher . As of Monday, USD/JPY was around 144.45.
Technical Outlook:
- Resilience: Holding above 142.08, the pair may test 145.35.
- Risk: A drop below 142.08 could lead toward 140.33.
Summary:
- DXY: Sideways near 99.17; key levels are 100.20 (resistance) & 99.00/97.70 (support).
- EUR/USD: Bulls in control above 1.1380; targets 1.1484, 1.1666.
- USD/JPY: Stabilizing near 144.45; support at 142.08, resistance at 145.35.
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