Currencies
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Euro “EC” (Jun)
Coverage for April 24
Friday's choppiness didn't allow a new signal to be generated. Monday's open responded by gapping down under the prior several sessions' lows and extending lower to retest last week's low. Despite bouncing into the afternoon, Monday's close remained under prior lows. A close under Monday's low would signal a new downleg underway. But until then, the most bullish possibility would be to range sideways.
Resistance: 1.3640 and 1.3700
Support: 1.3565 and 1.3460
British Pound “BP” (Jun)
Coverage for April 24
Monday's open gapped down but spent most of the session ranging narrowly above prior lows. The open's gap was barely fill at the session high, so pessimism was influential beyond the open's gap down. A close under Monday's low would signal a new downleg underway, but there otherwise remains potential to at least a slightly higher high.
Resistance: 2.0100 and 2.0310
Support: 1.9900 and 1.9775
Swiss Franc “SF” (Jun)
Coverage for April 24
Price had moved away from Thursday's opening gap Friday, so a recovery needed to be underway Monday to avoid a much deeper drop. Monday's open rejected the notion of a recovery by gapping down sharply and filling its gap back to last Monday's close. The balance of the session rallied, but there is no active signal either way.
Resistance: .8335 and .8355
Support: .8290 and .8265
Japanese Yen “JY” (Jun)
Coverage for April 24
A close under Friday's low should have been irrecoverable as the decline resumes at an accelerated pace. Monday's low did pierce Friday's low, but only momentarily before reversing up into positive territory. The session high essentially filled the gap back to last Thursday's close, so now a close under Friday's low would be that much more reliable as starting a new steep downleg.
Resistance: .8510 and .8550
Support: .8470 and .8415
Australian Dollar “AD” (Jun)
Coverage for April 24
Friday's session combined with the two prior sessions' "ineffectual optimism" to inhibit any new intraday high. Monday's open gapped down to prior lows and bounced only meekly before returning back to the open's lows. A new low was needed in order to signal a new downleg underway, but the distribution among sellers is obvious.
Resistance: .8360 and .8455
Support: .8295 and .8230
Canadian Dollar “CD” (Jun)
Coverage for April 24
Monday's narrow ranging within Friday's range was not bullish since Friday's range was at the high. A pullback would have been more bullish for neutralizing the overbought condition. A higher high would have been more bullish for attracting more buyers. The lack of movement suggests that opinion has lost sponsorship on both sides of the argument, which typically leads to a retracement.
Resistance: .8950 and .9000
Support: .8875 and .8810
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