Risk appetite is still only sufficient for small recoveries. That supports the Dollar once again this morning. Anyway the Dollar-Index (DXY) is consolidating between the 104.00 support and the 105.00 resistance and a final breakout should lead to a larger move. I still like the Dollar lower, in particular against Swiss franc and Japanese yen (see Morning Call #86), but independent of that, a weak Euro could pull the index up.
(source: fxstreet.com)
EURUSD -- 1.0517
The currency pair did not manage to close above the 1.0600 treshold yesterday. But that would be only the first necessary step for higher spot levels with 1.0636 (former support/resistance) and the 50 ema (1.0654) just around the corner. Next supports come in at 1.0500 big figure and the more important 1.0471/69. Below this level I would stop looking for longs.
GBPUSD -- 1.2207
The dip below 1.2000 on June 14th (lod 1.1934) was quickly bought back to 1.2407 (hod) on June 16th. Since then Sterling has been trading more or less in the middle of these outsides against the Dollar. Below 1.2150 I would also be careful with longs here.
AUDUSD -- 0.6893
The 0.7000 remains the decisive level for the time being. Those who believe risk sentiment can recover will look for longs above 0.6830. But below the 0.6800 treshold it could go down in big leaps.
Good luck,
Sebbo