CURRENCIES: The June Euro currency closed down 55 points at 1.3699 today. Prices closed nearer the session low today and hit a fresh five-week low. The bears have quickly gained the overall near-term technical advantage. Euro bulls’ next upside price breakout objective is pushing and closing prices above solid technical resistance at 1.3850. The next downside price breakout objective for the bears is closing prices below solid chart support at the April low of 1.3669. First resistance for the Euro lies at 1.3750 and then at this week’s high of 1.3773. Next support is seen at today’s low of 1.3687 and then at 1.3669. Wyckoff’s Market Rating: 4.0
The June Japanese yen closed down 11 points at .9779 today. Prices closed nearer the session low. The bulls and bears are on a level near-term technical playing field. Bulls’ next upside price breakout objective is closing prices above solid resistance at the March high of .9889. Bears’ next downside breakout objective is closing prices below solid technical support at the May low of .9687. First resistance is seen at today’s high of .9800 and then at this week’s high of .9824. First support is seen at today’s low of .9771 and then at .9750. Wyckoff’s Market Rating: 5.0
The June Swiss franc closed down 27 points at 1.1235 today. Prices closed nearer the session low and hit a five-week low today. Bears now have the overall near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid resistance at 1.1350. The next downside price breakout objective for the bears is closing prices below solid technical support at the April low of 1.1175. First resistance is seen at 1.1250 and then at this week’s high of 1.1291. First support is seen at today’s low of 1.1227 and then at 1.1200. Wyckoff’s Market Rating: 4.0
The June Australian dollar closed down 9 points at .9333 today. Prices closed near mid-range today. The bulls have the overall near-term technical advantage. Bulls’ next upside price breakout objective is closing prices above solid chart resistance at the April high of .9419. The next downside breakout objective for the bears is to produce a close below solid technical support at the May low of .9175. First resistance is seen at last week’s high of .9371 and then at .9400. Next support is seen at .9300 and then at .9250. Wyckoff’s Market Rating: 6.5
The June Canadian dollar closed down 13 points at .9161 today. Prices closed near mid-range today. The bulls have the slight near-term technical advantage. Prices are in a two-month-old uptrend on the daily bar chart. Bulls’ next upside price breakout objective is producing a close above chart resistance at last week’s high of .9240. The next downside price breakout objective for the bears is closing prices below solid technical support at the May low of .9066. First resistance is seen at today’s high of .9177 and then at this week’s high of .9188. First support is seen at today’s low of .9144 and then at .9100. Wyckoff’s Market Rating: 5.5
The June British pound closed down 40 points at 1.6821 today. Prices closed nearer the session low on more profit taking. The bulls still have the overall near-term technical advantage. The next upside price breakout objective for the bulls is closing prices above solid technical resistance at the contract high of 1.6992. Bears’ next downside technical breakout objective is closing prices below solid support at 1.6700. First resistance is seen at today’s high of 1.6879 and then at 1.6900. First support is seen at 1.6800 and then at 1.6750. Wyckoff’s Market Rating: 7.0
The June U.S. dollar index closed up 0.220 at 80.185 today. Prices closed nearer the session high on more short covering and hit a five-week high today. The greenback bulls are on a roll now but the bears still have the slight overall near-term technical advantage. The bulls’ next upside price breakout objective is to close prices above solid technical resistance at the April high of 80.770. The next downside price breakout objective for the bears is to produce a close below solid technical support at 79.500. Next resistance lies at today’s high of 80.285 and then at 80.500. First support is seen at 80.000 and then at today’s low of 79.920. Wyckoff’s Market Rating: 4.5
