EUR/USD

The bloc currency eases further today, as EU Summit’s decisions have already been priced in and some dissonant tones from EU members have put the pair under additional pressure. Loss of 1.2600/10 platform and main bear-trendline, connecting 1.3282 and 1.2745 tops, is hitting fresh day’s lows, as the pair approaches next strong support at 1.2580 zone, Fib 38.2% / 55 day EMA. Break here to further delay bulls and open 1.2550/15, Fibonacci supports. Hourly studies are entering negative territory that increases risk of further weakness, with break below 1.2580 required to confirm. At the upside, today’s upside rejection at 1.2666, offers initial resistance, ahead of today’s / last Friday’s highs at 1.2680/91, break of which to bring bulls back in play for test of key short-term barrier at 1.2745.

Res: 1.2610, 1.2642, 1.2666, 1.2679
Sup: 1.2582, 1.2552, 1.2515, 1.2500

GBP/USD

Returns to strength after today’s consolidation under last Friday’s high at 1.5705, found ground at 1.5650 zone, previous highs / 20 day EMA / Fib 23.6%. Fresh gains through 1.5700/05 barrier, now see potential for extension towards 1.5749, 200 day MA that capped the short-term recovery off 1.5267, interrupted by spike to 1.5776, 20 June peak. With near-term studies in a positive mode, potential is seen for test of this barrier, with today’s close above 1.5700, required to maintain bullish structure. Supports lie at 1.5640/30, day’s low / Fib 38.2%, while break below 1.5600, also 50% retracement, will be bearish.

Res: 1.5705, 1.5721, 1.5732, 1.5749
Sup: 1.5665, 1.5650, 1.5640, 1.5630

USD/JPY

The pair runs out of steam, as repeated attempt at 80.00 barrier that was briefly tested last Friday, failed at 79.83. Fresh weakness, fuelled by US data, brought the price to the day’s lows at 79.45, also Fib 61.8% of 79.12 / 79.98 upleg. Risk is now seen for further extension lower and test of next strong supports at 79.00 zone, last Friday’s low / 200 day MA, loss of which will be bearish. As the near-term price action loses initial momentum and hourly studies pointing lower, the downside remains vulnerable.

Res: 79.83, 79.98, 80.00, 80.60
Sup: 79.43, 79.35, 79.12, 79.00

USD/CHF

Near-term recovery off last Friday’s low at 0.9461, attempts at 0.9550 zone, Fib 38.2% of 0.9677/0.9461 decline / 55 day EMA, after clearing initial resistance at 0.9520. As the near-term studies are improving, potential exists for stronger correction, with clearance of the next barrier at 0.9570 zone, last Friday’s intraday high / 50% retracement, required to expose 0.9600 area, regain of which to bring more positive tone in the short-term structure. However, any failure under 0.9677 would risk lower top, as part of broader weakness off 0.9769, 01 June peak.

Res: 0.9570, 0.9590, 0.9600, 0.9650
Sup: 0.9523, 0.9500, 0.9482, 0.9461