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FxWirePro: BTC/USD faces strong trend line resistance at 1200, break above to see further upside

BTC/USD failed to close above trend line resistance on Tuesday. It is currently trading at 1190 levels at the time of writing (Bitstamp).

Ichimoku analysis of daily chart:

Tenkan Sen: 1185

Kijun Sen: 1060.16

The pair is facing strong resistance at 1200 (trend line joining 1350 and 1229) and only a close above will see further upside in the pair, targeting 1229 (April 11 high)/1260 (March 15 high).

In the daily chart, the pair is successfully holding above 5-DMA and momentum studies suggest scope for further bullish bias.

In the 4-hour chart, 1189.54 (4h 50-SMA) is acting as a major support and a break below would target 1165.94 (20-DMA)/1121 (55-EMA).

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June 28 15:30 UTC Released

BRForeign Exchange Flows*

Actual

-5.279 bln

Forecast

Previous

-3.401 bln

June 28 14:30 UTC Released

BRBank Lending MM*

Actual

-0.2 %

Forecast

Previous

-0.2 %

June 28 19:00 UTC 190190m

ARBank Lending MM*

Actual

Forecast

1.9 %

Previous

0.8 %

June 28 21:00 UTC 310310m

KRBOK Manufacturing BSI*

Actual

Forecast

Previous

82 bln

June 28 23:50 UTC 480480m

JPForeign Bond Investment

Actual

Forecast

2.6 bln JPY

Previous

3.2 bln JPY

June 28 23:50 UTC 480480m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 480480m

JPForeign Invest JP Stock

Actual

Forecast

Previous

-331.6 bln JPY

June 28 23:50 UTC 480480m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

June 28 23:50 UTC 480480m

DERetail Sales YY

Actual

Forecast

2.6 %

Previous

3.2 %

June 28 23:50 UTC 480480m

JPForeign Bond Investment

Actual

Forecast

Previous

1090.1 bln JPY

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