EUR/USD Current price: 1.2525

EURUSD continues to remain above 1.2500 psychological support, maintaining a relatively rangebound scenario and indicatively neutral for the moment. Any violation of downside support of 1.2436 will surely activate additional support barriers below at the 1.2406 June 28th session low. A penetration of the upside resistance of 1.2700 would expose the 1.2792 50% fib barrier.

Support levels: 1.2510 1.2470 1.2420

Resistance levels: 1.2545 1.2580 1.2620

GBP/USD Current price: 1.5593

Bearish signals continue to percolate in the GBPUSD major pair. A nascent reverse flag formation is bearishly indicative of the pair’s short term prospects. Subsequently, a violation of the 1.5268-1.5484 ascending trendline support will open the door for declines to 1.5484 June 28th low support.

Support levels: 1.5585 1.5550 1.5520

Resistance levels: 1.5630 1.5665 1.5715

USD/JPY Current price: 79.86

USDJPY has broken through narrow consolidation, penetrating upside resistance at 79.78. The move will help to strengthen momentum for an extension of the current trend to 80.50 round figure resistance and ultimately barriers at 80.94 50% fib resistance. Any near term correction is likely to be mitigated by the 79.50 support.

Support levels: 79.45 79.20 78.80

Resistance levels: 80.10 80.30 80.60

AUD/USD: Current price: 1.0252

Building on the bounce off of 0.9450 support, USDCHF has continued to trade higher. However, the advance remains contained in a wider consolidative range, indicative of directional neutrality. For now, traders will be eyeing a penetration of the 0.9650 resistance barrier in exposing a test of the 0.9770 June 1st session spike high. Any declines require a violation of 0.9450 support.

Support levels: 1.0260 1.0220 1.0180

Resistance levels: 1.0290 1.0320 1.0360

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