The University of Michigan consumer sentiment survey is due out today

<p>The last reading showed a figure of 74.3%, and today’s reading is forecast to come in at 75%. . Gold Range: 1,526.00 – 1,530.40 Support: […]</p>

The last reading showed a figure of 74.3%, and today’s reading is forecast to come in at 75%.

Range: 1,526.00 – 1,530.40
Support: 1,522.00
Resistance: 1,533.00
Precious metals were somewhat sidelined as the mayhem continued in jumpy currency markets. With an overall picture of risk aversion, this leads the metals to hold firmly onto safe-haven status. Despite the dollar’s strength, gold ranged 1,521.75-1,533.25 with silver at 35.16-79 before closing out the day at 1,529.85 and 35.55 respectively. Asian markets saw some selling pressure, with gold down to 1,525.90 and silver to 35.27. Support for gold is seen at 1,522, with resistance at 1,533. Silver has nearby support towards 35.15 and resistance at 35.72.
Range: 1.4127 – 1.4223
Support: 1.4125
Resistance: 1.4225
Euro-dollar closed in New York at 1.4205, just off extended recovery highs of 1.4224. Trade in early Asia was contained within a range of 1.4190/1.4223. The rate began to ease lower as Asian equity markets eased off early highs, easing euro-dollar to 1.4165. The market then reacted to a Juncker comment that the German Bundestag wants to decide on Greek aid in autumn, pushing back hopes for a mid-July decision with the rate dropping to 1.4127, the market remains jittery over Greece developments. Support is now at 1.4125 and then 1.4100, with resistance at 1.4225.
Range: 1.6106 – 1.6167
Support: 1.6100
Resistance: 1.6180

Cable closed in New York at 1.6145, off late recovery highs at 1.6170. The rate opened in Asia around 1.6155, with trade during the early part of the session stuck in a range between 1.6140 and 1.6170. A reversal in Asian equities prompted a general paring back of risk, along with reported comments from EU’s Juncker weighing heavily on the euro. Cable followed suit and stepped its way down to 1.6105. The rate recovered to 1.6125 into early Europe, edging higher in line with euro-dollar. Resistance remains in place at 1.6180, with a break above to open a move towards 1.6200 ahead of 1.6235. Support at 1.6100 and a break will expose 1.6078.


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