EurUsd Market returns on 1.5800 high late Friday. This is the confirmation Euro is breaking up 1.5400-1.5800 consolidation range. It is reopening the way up to 1.6000 Pivot point resistance ahead of key resistance 1.6200 market target. On downside, a return below 1.5800 might slowdown the uptrend but not open the way down to 1.5000 psychological key level. Support holds 1.5573 Friday low. Initial resistance holds 1.5819 May 27th high.
GbpUsd Cable broke up 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 Market is trading around 105 resistance for the third week. Any profit taking on 105 level might send the market back down to 100 – 104 consolidation trading range. Minor support holds 102.58 May 9th low. Renewed strength over 105 would put 110.10 strong resistance (Trendline) into focus and mid January double top ahead of 111.92 early January high. Initial resistance holds 106.43 Thursday high. Initial support holds 104.87 Friday low.
UsdChf Market broke down 1.0400-1.0600 trading range last week. Trendline resistance holds 1.0625 May 8th high. Early January double top 1.1191 marks strong resistance. Initial support holds 1.0182 last Friday low. Further weakness may open the way toward 0.9639 17th March low.