SpotEuro Forex Daily Outlook June 4, 2010

By IBTimes Staff Reporter | June 04 2010 12:04 AM

The dollar was mixed ahead of the US unemployment report, gaining ground mostly against the euro. Currently trading near the low of last week's range, we're going to be happy if that support level isn't broken until the employment figures are released. If support between 1.2130/1.2150 is broken, it will make the price action more difficult to read. The other majors consolidated across the board, with the EUR/CHF seeing a big drop, following the break of 1.4120. We'll be sellers of the euro if price can get back up to that figure. We're looking for strong Canadian employment to strengthen the CAD and then will look forward to NFP for guidance for the rest of the day.

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