EurUsd Market posted 1.5844 high on Monday before turning 3cts lower yesterday at 1.5455. Market shall wait for a return over 1.5800 to confirm Euro is breaking up 1.5400-1.5800 consolidation range. This would reopen the way up to 1.6000 Pivot point resistance ahead of key resistance 1.6200 market target. On downside, current level below 1.5800 is slowing down the uptrend but do not open the way down to 1.5000 psychological key level. Support holds 1.5441 Tuesday low. Initial resistance holds 1.5819 May 27th high.
GbpUsd Cable holds just over the upper Trendline resistance of two-month downtrend 2.0398 – 1.9364 late May. But it failed to show strong direction. Trading range is set 1.9460 – 1.9850. Psychological 2.0000 level stays into focus. On the downside, a reversal below 1.9600 might bring again focus on 1.9337 January low and 1.9105 (50% retracement of 1.7049 – 2.1162 advance). Strong support holds 1.9363 20th February and 14th May low.
UsdJpy Current trend started early this week hit 107.76 yesterday high and 3-month high. This would put 110.10 strong resistance (Trendline) into focus and mid January double top ahead of 111.92 early January high. Any profit taking to and lower than 105 level might send the market back down to 100 – 104 consolidation trading range. Minor support holds 102.58 May 9th low. Initial support holds 104.87 Friday low.
UsdChf Market is back again in 1.0400-1.0600 trading range. Early January double top 1.1191 marks strong resistance. Initial support holds 1.0148 Monday low. Further weakness may open the way toward 0.9639 17th March low.