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CMS Daily Market Report 21st June 2022

 

According to the analysis, the pound was supported at 1.2199 on the first day of the week and rose 0.27% at the end of the day. Currently, the technical position of the currency pair in the 1-hour chart shows the weakness of the uptrend in this range.

According to the analysis, at the same time as the Federal Reserve meeting, the euro fell to 1.03593, but with the support of buyers in this area, closed at 1.04938 at the end of the week. Currently, considering the price position in the daily and 4-hour chart, the 1.0600 range is the most important leading resistance range, and considering the downward trend of the currency pair, selling in this range is a low-risk option.


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