Guest post by INO.com

The June Dollar was lower overnight as it extends the decline off March’s high. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month’s decline, the 25% retracement level of the 2014-2015-rally crossing at 95.62 is the next downside target. Closes above the 10-day moving average crossing at 98.58 would confirm that a short-term low has been posted. First resistance is the 10-day moving average crossing at 98.58. Second resistance is March’s high crossing at 99.30. First support is the 25% retracement level of the 2014-2015-rally crossing at 95.62. Second support is the late- February low crossing at 94.53.

The June Euro was higher overnight as it extends the rally off March’s low. Stochastics and the RSI are becoming overbought but remain bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the 25% retracement level of the 2014-2015-decline crossing at 113.42 is the next upside target. Closes below the 10-day moving average crossing at 107.80 are needed to confirm that a short-term top has been posted. First resistance is the overnight high crossing at 110.64. Second resistance is the 25% retracement level of the 2014-2015-decline crossing at 113.42. First support is the 10-day moving average crossing at 107.80. Second support is March’s low crossing at 104.73.

The June British Pound was higher overnight. Stochastics and the RSI are neutral to bullish hinting that a short-term low might be in or is near. Closes above the 20-day moving average crossing at 1.4997 are needed to confirm that a short-term low has been posted. If June resumes this month’s decline, weekly support crossing at 1.4408 is the next downside target. First resistance is the 20-day moving average crossing at 1.4997. Second resistance is the reaction high crossing at 1.5145. First support is last Wednesday’s low crossing at 1.4625. Second support is weekly support crossing at 1.4408.

The June Swiss Franc was higher overnight as it extends the rally off March’s low. Stochastics and the RSI are overbought but remain bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, the 38% retracement level of the January-March-decline crossing at 1.0697 is the next upside target. Closes below the 10-day moving average crossing at 1.0224 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 1.0569. Second resistance is the 38% retracement level of the January-March-decline crossing at 1.0697. First support the 10-day moving average crossing at 1.0224. Second support is March’s low crossing at 0.9910.

The June Canadian Dollar was higher overnight as it extends the rally off March’s low. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above February’s high crossing at 80.76 will be needed to confirm an upside breakout of this year’s trading range. Closes below the 10-day moving average crossing at 79.09 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at 80.49. Second resistance is February’s high crossing at 80.76. First support is the 10-day moving average crossing at 79.09. Second support is March’s low crossing at 77.81. Third support is monthly support crossing at 76.53.

The June Japanese Yen was higher overnight as it extends the rally off March’s low. Stochastics and the RSI are becoming overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the aforementioned rally, February’s high crossing at .8562 is the next upside target. Closes below the 20-day moving average crossing at .8312 would confirm that a short-term top has been posted. First resistance is the overnight high crossing at .8460. Second resistance is February’s high crossing at .8562. First support is the 20-day moving average crossing at .8312. Second support is March’s low crossing at .8205. Third support is monthly support crossing at .7956.