EurUsd Euro is back on uptrend having broke out 1.5400 – 1.5600 consolidation range. Market could now return up to 1.6000 Pivot point resistance ahead of key resistance 1.6200 market target. On downside, only a return below previous week trading range would open the way to 1.5000 psychological key level before 1.4500 pivot point. Support holds 1.5285 last week low. Initial support holds 1.5680 Tuesday high.
GbpUsd Cable is trading near the upper Trendline resistance of one-month downtrend 2.0398 – 1.9364. This move over 1.9600 may reopen the way up to 1.9800 and 2.0000 psychological level. Actual trading range is 1.9500 – 1.9800. 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 Recent 1 ½-month uptrend found resistance around 105. Market broke on Tuesday the lower Trendline support. This recent profit taking on 105 might send the market back down to 100 – 104 consolidation trading range. Minor support holds 102.58 May 9th low. Renewed strength would put 110.10 strong resistance (Trendline) into focus and mid January double top ahead of 111.92 early January high.
UsdChf Market hit 1.0625 two-month high. On Tuesday, it broke down in 1.0400-1.0600 trading range. This move would open the way down to 1.0200 and toward 0.9639 17th March low. Early January double top 1.1191 marks strong resistance. Initial resistance holds 1.0625 May 8th high.