Technical Daily Analysis: May 23, 2023 – US Dollar Rebounds

The following is a technical daily analysis, May 23, 2023. The data and analysis contained in this newsletter can be used on a wide scale for your trading. However, it is important to note that GICTrade and its data providers are not responsible for your trading results. So, it's your own responsibility. Before knowing today's technical analysis, immediately register yourself to take part in the GIC Gebyar Prize and get the main prize, namely Mobile Mitshubshi Expander or Vacation Package to Labuan Bajo for 4 days and 3 nights. In the following, we will inform you of the forecast of price movements in Forex and Commodities which is equipped with the calculation of Pivot points, Resistance and Support levels

EURUSD

Daily technical analysis for the EUR/USD pair on the 1-hour period tried to move down, touching the support level at 1.07890 until the next support level at 1.07540. The downward trend can also be seen from the FXBot template, where the EUR figure is lower by 4.5 than the USD figure of 6.1. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.07890 TP1 1.07540 TP2 1.07300 SL 1.08100

GBPUSD

GBP/USD on the 1-hour period tried to move down, touching the support level at 1.24200 until the next support level at 1.23810. The downward trend is also seen from the FXBot template, where the GBP figure is lower by 3.7 from the USD figure of 6.1. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 1.24200 TP1 1.24000 TP2 1.23810 SL 1.24400

AUDUSD

AUD/USD on the 1-hour period moved down, trying to touch the support level at 0.66250 until heading to the next support level at 0.66000. The downward trend can also be seen from the FXBot template, where the AUD figure is lower by 5.4 than the USD figure of 6.1. While the bearish bias is also supported by a sell signal indicated by a red arrow.

Suggest: Sell 0.66250 TP1 0.66000 TP2 0.65850 SL 0.66460

USDCHF

Daily technical analysis for the USD/CHF pair on the 1-hour period is trying to move upwards, needing to break through the resistance level at 0.90080 and towards the next resistance level at 0.90300. The upward trend can also be seen from the FXBot template, where the CHF figure is lower by 3.8 from the USD figure of 6.0. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 0.90080 TP1 0.90300 TP2 0.90640 SL 0.89740

USDJPY

USD/JPY in the 1-hour period is trying to move up, needing to break through the resistance level at 138,870 to the next resistance level at 139,370. The upward trend can also be seen from the FXBot template, where the JPY figure is lower by 2.1 than the USD figure of 6.0. While the bullish bias is also supported by a buy signal indicated by a green arrow.

Suggest: Buy 138.600 TP1 138.870 TP2 139.370 SL 138.300

XUL (LOCO LONDON GOLD)

Gold prices in the 1-hour period tried to move down, touching the 1960.00 support area until the next support level at 1954.00. While the bearish trend is also supported by sell signals indicated by red arrows.

Suggest: Sell 1975.10 TP1 1970.00 TP2 1967.70 SL 1981.50

CLSK (OIL)

Oil prices in the 1-hour period are trying to move up, needing to pass the resistance area at 72.78 to reach the next resistance level at 73.61. Meanwhile, to change the bias to be bearish, oil prices need to pass the support level at 71.95 to the next support level at 71.01.

Suggest: Buy 72.78 TP1 73.20 TP2 73.61 SL 72.20