EUR/USD

Loses ground after ECB’s announcement and press conference comments, as well as better than expected US data that boosted the dollar. The single currency dipped to fresh one-month lows, after surging through initial 1.2500 and more significant 1.2400 base, loss of which increases risk of revisiting key support and two-year low at 1.2287, posted on 01 June. Negative tone now dominates on lower and larger timeframes, with overextended conditions on hourly and 4H charts suggesting corrective action, yet no signal seen, as the price continues to travel south. Previous strong supports at 1.2400/40, now offers initial resistance, while only break above today’s high and 50% retracement of 1.2691/1.2376 and 1.2535, will provide relief.

Res: 1.2400, 1.2440, 1.2500, 1.2535
Sup: 1.2376, 1.2335, 1.2300, 1.2287

GBP/USD

Fresh weakness was sparked on a break below near-term platform at 1.5570, following upside rejection and reversal from 1.5700 resistance zone. Break below trendline support at 1.5535, however, kept the next strong support at 1.5500 intact for now, with hourly studies at extreme lows, but still not signaling any corrective action. Loss of bullish momentum on 4H chart and MACD moving into negative territory, keeps focus at 1.5500/1.5484, immediate downside targets, loss of which to open another significant level at 1.5460, mid June higher platform and Fib 61.8% of larger 1.5267/1.5776 rally. Yesterday/today’s consolidation range floor at 1.5573, now acts as initial resistance. Regain of 1.5600/22 is required to ease bear pressure.

Res: 1.5573, 1.5600, 1.5610, 1.5622
Sup: 1.5509, 1.5500, 1.5484, 1.5460

USD/JPY

The price surged higher on renewed attempt at pivotal 80.00 barrier, after strong reversal off 80.08, overnight’s high, found footstep at bull trendline connecting 79.12/30 lows at 79.60. Improved hourly conditions see good potential for possible break higher that will also signal break above short-term range and establish fresh direction, with 80.60, seen next. Today’s low and trendline at 79.60, offer good support and break here to confirm further range-trading.

Res: 80.09, 80.21, 80.60, 81.00
Sup: 79.90, 79.60, 79.40, 79.30

USD/CHF

The pair surged higher after break above 0.9600 barrier, clearing next resistance at 0.9677, to dent psychological barrier at 0.9700 so far. Short-term focus is now completely turned towards the upside, as one-week recovery off 0.9461 higher low, where reversal prevented the pair from retesting key support and double bottom at 0.9420. Regain of 0.9700, now focuses 0.9769, 01 June peak, with possible extension of broader uptrend from 0.8929, annual low, seen on a break. Positive tone remains dominative on near / short-term outlook and shows no signals of reversal, despite overextended conditions.

Res: 0.9713, 0.9734, 0.9769, 0.9800
Sup: 0.9677, 0.9650, 0.9600, 0.9580