EurUsd Euro tested 1.5304 Friday low and recovered earlier this week. Renewed weakness below 1.5400 will put the light 1 ½-month uptrend on hold. This may open way down to 1.5000 key level. Support holds 1.5304 Friday low. On the upside, initial resistance holds 1.5844 June 9th high. This would reopen the way up to 1.6000 Pivot point resistance ahead of key resistance 1.6200 market target.
GbpUsd Cable remains in downtrend 2.0398 – 1.9364 started mid-March. It is currently building a triangle flag with ways out at 1.9500 or 1.9400. Trading range is still 1.9400 – 1.9850. On the upside, psychological 2.0000 level stays into focus. On the downside, current 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 uptrend hit 108.59 high and new 3-month high on Monday. 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 return 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 104.44 Monday low. Strong support hold 106.59 former resistance (38.2% retracement of 124.15 – 95.74 decline.
UsdChf Market is currently trading in 1.0400-1.0600 range. Early January double top 1.1191 marks strong resistance. Initial support holds 1.0148 Monday low. Further weakness may open the way toward 0.9637 17th March low. Friday 1.0541 high holds initial resistance. Minor support holds 1.0305 last Thursday low.