EurUsd Market failed to overtop 1.5800 early this week. On downside, yesterday return below 1.5600 would open the way down to 1.5000 psychological key level before 1.4500 pivot point. Support holds 1.5485 Thursday low. Initial resistance holds 1.5819 Tuesday high. A return in previous 1.5600-1.5800 consolidation range would reopen the way up to 1.6000 Pivot point resistance ahead of key resistance 1.6200 market target.
GbpUsd Cable broke up the upper Trendline resistance of one-month downtrend 2.0398 – 1.9364 last week. 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 Market is back on 3-month resistance around 105. 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.
UsdChf Market hit 1.0625 two-month high on May 8th. After hitting 1.0224 low this week, it is back in 1.0400-1.0600 trading range. Initial resistance holds 1.0625 May 8th high. Early January double top 1.1191 marks strong resistance. Initial support holds 1.0216 last Friday low. A return below 1.0400 would open the way down to 1.0200 and maybe toward 0.9639 17th March low.