Analysis

The June Dollar closed lower on Tuesday. The mid-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, the 50-day moving average crossing at 95.66 is the next downside target. If June renews the rally off February's low, weekly resistance crossing at 97.83 is the next upside target. First resistance is March's high crossing at 97.16. Second resistance is weekly resistance crossing at 97.83. First support is the 50-day moving average crossing at 95.66. Second support is the late-February low crossing at 95.24.

The June Euro closed higher on Tuesday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 50-day moving average crossing at 114.86 is the next upside target. If June renews the decline off January's high, the January-2017 low crossing at 110.16 is the next downside target. First resistance is the 50-day moving average crossing at 114.86. Second resistance is the reaction high crossing at 115.22. First support is the 87% retracement level of the 2016-2018 rally crossing at 112.62. Second support is the January 2017 low crossing at 110.16.

The June British Pound closed slightly higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off January's low, the 50% retracement level of the April-December-2018 decline crossing at 1.3603 is the next upside target. Closes below the 50-day moving average crossing at 1.3118 would confirm that a short-term top has been posted. First resistance is last-Wednesday's high crossing at 1.3441. Second resistance is the 50% retracement level of the April-December-2018 decline crossing at 1.3603. First support is the 50-day moving average crossing at 1.3118. Second support is February's low crossing at 1.2854.

The June Swiss Franc closed higher on Tuesday as it extends the rally off March's low. The high-range close sets the stage for a steady to higher opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 50-day moving average crossing at 1.0141 is the next upside target. Closes below the 10-day moving average crossing at 1.0036 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 1.0141. Second resistance is the late-February high crossing at 1.0170. First support is March's low crossing at 0.9970. Second support is weekly support crossing at 0.9902.

The June Canadian Dollar closed slightly higher on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 75.60 are needed to temper the near-term bearish outlook. If June renews the decline off February's high, December's low crossing at 74.47 is the next downside target. First resistance is the 50-day moving average crossing at 75.60. Second resistance is the reaction high crossing at 76.46. First support is March's low crossing at 74.43. Second support is December's low crossing at 73.47.

The June Japanese Yen closed unchanged on Tuesday. The low-range close sets the stage for a steady to lower opening when Wednesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the reaction high crossing at 0.0911 are needed to confirm that a short-term low has been posted. If June resumes the decline off January's high, November's low crossing at 0.0893 is the next downside target. First resistance is the reaction high crossing at 0.0915. Second resistance is the reaction high crossing at 0.0922. First support is the 87% retracement level of the November-January-rally crossing at 0.0900. Second support is November's low crossing at 0.0893.