EurUsd Euro in now consolidating in 1.5600 – 1.5800 trading range. Market next step could be a return up to 1.6000 Pivot point resistance ahead of key resistance 1.6200 market target. On downside, only a return below previous week 1.5600 would open the way down to 1.5000 psychological key level before 1.4500 pivot point. Support holds 1.5693 Thursday low. Initial support holds 1.5697 Friday low. Initial resistance holds 1.5819 yesterday high.
GbpUsd Cable broke up the upper Trendline resistance of one-month downtrend 2.0398 – 1.9364 last Thursday. This move over 1.9720 may reopen the way up to 1.9800 and 2.0000 psychological level. 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 last week 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 over 105 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 May 8th. Last week, it broke down 1.0400-1.0600 trading range. This move would open the way down to 1.0200 and maybe toward 0.9639 17th March low. Early January double top 1.1191 marks strong resistance. Initial resistance holds 1.0625 May 8th high. Initial support holds 1.0216 Friday low.