The US Federal Reserve meeting today is a key event that could impact all major currencies. Risk aversion due to the French election and weak economic data is putting pressure on the Euro, Aussie dollar, and gold. The US dollar and Japanese yen are benefiting from this risk aversion.

British Pound (GBP/USD):

• GBP shrugs off weak UK employment data as focus shifts to BoE policy.
• Technical outlook: choppy, with resistance at 1.2745 and support at 1.2671.
• Buying opportunities on false breakouts below support and selling opportunities on false breakouts above resistance.
• Potential for a bearish move if sellers establish control around resistance.

Japanese Yen (USD/JPY):

• USD/JPY gains on weak Japanese data and ahead of Fed meeting.
• Technical outlook: bullish, with resistance at 157.77 and support at 156.79.
• Buying opportunities on dips and selling opportunities on failed breakouts above resistance.

Australian Dollar (AUD/USD):

• AUD declines on weak business confidence data.
• Technical outlook: bearish, with resistance at 0.6619 and support at 0.6540.
• Further downside expected after Fed meeting, with a target of 0.6467.

Gold (XAU/USD):

• Gold under pressure ahead of US inflation data and Fed meeting.
• Technical outlook: bearish, with resistance at 2,337 and support at 2,270.
• Selling opportunities below $2,312 with targets at $2,285 and $2,270.

Key Events to Watch:

• Wednesday, June 12th: US inflation report and Federal Reserve rate decision.
• Friday, June 14th: French snap election.