Analysis

The June Dollar was higher overnight. Stochastics and the RSI are turning neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low, March's high crossing at 97.16 is the next upside target. Closes below the 50-day moving average crossing at 96.30 are needed to confirm that a double top has been posted. 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 96.30. Second support is March's low crossing at 95.17.

The June Euro was lower overnight. The low-range trade overnight sets the stage for a steady to lower opening when the day session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that sideways to lower prices are possible near-term. If June resumes the decline off March's high, the January-2017 low crossing at 110.16 is the next downside target. If June extends the rally off April's low, the 50-day moving average crossing at 113.85 is the next upside target. First resistance is the 50-day moving average crossing at 113.85. Second resistance is March's high crossing at 115.35. 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 was lower overnight. The low-range overnight trade sets the stage for a steady to lower opening when the day session beings trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below March's low crossing at 1.3026 would confirm that a short-term top has been posted. Closes above the 50-day moving average crossing at 1.3160 would temper the near-term bearish outlook. First resistance is March's high crossing at 1.3441. Second resistance is the 50% retracement level of the 2018 decline crossing at 1.3603. First support is March's low crossing at 1.3026. Second support is February's low crossing at 1.2854.

The June Swiss Franc was lower overnight as it extends the decline off March's high. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, weekly support crossing at 0.9930 is the next downside target. Closes above the 50-day moving average crossing at 1.0073 would confirm that a short-term low has been posted. First resistance is the 50-day moving average crossing at 1.0073. Second resistance is March's high crossing at 1.0191. First support is the overnight low crossing at 0.9939. Second support is weekly support crossing at 0.9930.

The June Canadian Dollar was lower overnight as it extends the March-April trading range. Stochastics and the RSI are neutral to bearish signaling sideways to lower prices are possible near-term. Closes above the reaction high crossing at 75.64 are needed to confirm an upside breakout of the aforementioned trading range. Closes below March's low crossing at 73.43 are needed to confirm a downside breakout of the aforementioned trading range. First resistance is the reaction high crossing at 75.64. 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 was steady to slightly higher overnight. Stochastics and the RSI are oversold but remain neutral to bearish signaling that additional weakness is possible near-term. If June extends the decline off March's high, December's low crossing at 0.0894 is the next downside target. Closes above the 50-day moving average crossing at 0.0907 would temper the near-term bearish outlook. First resistance is the 50-day moving average crossing at 0.0907. Second resistance is March's high crossing at 0.0918. First support is Wednesday's low crossing at 0.0896. Second support is December's low crossing at 0.0894.