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CURRENCIES

The June Dollar was slightly higher overnight as it consolidates some of this month's decline. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends this month's decline, the 62% retracement of the 2016-2017-rally crossing at 97.42 is the next downside target. Closes above the 20-day moving average crossing at 100.66 are needed to confirm that a low has been posted. First resistance is the 10-day moving average crossing at 99.73. Second resistance is the 20-day moving average crossing at 100.66. First support is the 50% retracement of the 2016-2017-rally crossing at 98.62. Second support is the 62% retracement of the 2016-2017-rally crossing at 97.42.

The June Euro was lower overnight as it consolidates some of the rally off March's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, the 50% retracement level of the 2016-2017-decline crossing at 110.91 is the next upside target. Closes below the 20-day moving average crossing at 107.35 would confirm that a short-term top has been posted. First resistance is the 38% retracement level of the 2016-2017-decline crossing at 109.34. Second resistance is the 50% retracement level of the 2016-2017-decline crossing at 110.91. First support is the 10-day moving average crossing at 108.30. Second support is the 20-day moving average crossing at 107.35.

The June British Pound was steady to slightly lower overnight as it consolidates some of the rally off March's low. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, February's high crossing at 1.2742 is the next upside target. Closes below the 20-day moving average crossing at 1.2363 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 1.2643. Second resistance is February's high crossing at 1.2742. First support is the 20-day moving average crossing at 1.2363. Second support is March's low crossing at 1.2138.

The June Swiss Franc was steady to slightly lower overnight as it consolidates some of this month's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends this month's rally, November's high crossing at 1.0448 is the next upside target. Closes below the 20-day moving average crossing at 1.0036 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 1.0242. Second resistance is November's high crossing at 1.0448. First support is the 10-day moving average crossing at 1.0120. Second support is the 20-day moving average crossing at 1.0036.

The June Canadian Dollar was lower overnight while extending the trading range of the past two-weeks. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. Closes above last Tuesday's high crossing at 75.49 would open the door for a possible test of the 50-day moving average crossing at 75.66 in the near-future. If June resumes the decline off January's high, December's low crossing at 73.71 is the next downside target. First resistance is last Tuesday's high crossing at 75.49. Second resistance is the 50-day moving average crossing at 75.66. First support is March's low crossing at 73.98. Second support is December's low crossing at 73.71.

The June Japanese Yen was slightly higher overnight as it extends this month's rally. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 38% retracement level of the August-January-decline crossing at 0.9127 is the next upside target. Closes below the 20-day moving average crossing at 0.8881 would confirm that a short-term top has been posted. First resistance is Monday's high crossing at 0.9113. Second resistance is the 38% retracement level of the August-January-decline crossing at 0.9127. First support is the 20-day moving average crossing at 0.8881. Second support is March's low crossing at 0.8694.

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