Despite yesterday's rebound to 1.5281, current sharp retreat after faltering below this level suggest the rebound from 1.5158 (last week's low) has ended and a retest of this level would be seen, however, break there is needed to confirm recent decline has resumed and extend weakness to 1.5125-30 (61.8% Fibonacci retracement of 1.4832-1.5607), then 1.5113 (50% projection of 1.5593-1.5173 measuring from 1.5323) but price should stay above 1.5060-65

Although the single currency has retreated after intra-day marginal rise to 1.2904, reckon 1.2842-46 (previous minor support and current level of the lower Kumo) would limit downside and near term upside risk remains for retracement of recent decline, above 1.2904-05 would bring test of resistance at 1.2930 but renewed selling interest should emerge around 1.2945-50 (38.2% Fibonacci retracement of 1.3195-1.2796), bring another decline later.

Although the greenback has rebounded after holding above yesterday's low of 102.00, reckon upside woudl be limited to 102.80-85 and 103.05-10 should hold and bring further consolidation below Friday's high of 103.31, only break of said yesterday's low at 102.00 would add credence to our view that a minor top is formed at 103.31, bring correction to 101.83 support, however, downside should be limited to 101.50 and previous support at 101.25 should hold, bring another rally.

As the greenback has retreated after resuming recent upmove to 0.9761 last week, retaining our view that minor consolidation below this Friday's high would be seen and below yesterday's low of 0.9649 would bring correction to 0.9637 (Friday's low) and possibly towards 0.9600-05 but reckon support at 0.9578 would limit downside and bring another upmove later. A break of said resistance at 0.9761 would extend recent upmove to 0.9785-87

Cable's rebound after last week's resumption of decline to 1.5158 suggests consolidation above this level would be seen and initial upside risk remains for retracement to 1.5300 and possibly to 1.5323-31 (previous resistance and 38.2% Fibonacci retracement of 1.5593-1.5158) where renewed selling interest should emerge, bring another selloff. A break of said support at 1.5158 would extend recent decline to 1.5125-30

As the single currency has rebounded again after finding support around the Kijun-Sen and Ichimoku cloud top, suggesting near term upside risk remains for retracement of recent decline, above 1.2904-05 would bring test of resistance at 1.2930 but renewed selling interest should emerge around 1.2945-50 (38.2% Fibonacci retracement of 1.3195-1.2796), bring another decline later. A break of the lower Kumo (now at 1.2839) would suggest top is possibly formed

Although the greenback has rebounded after holding above yesterday's low of 102.00, reckon upside woudl be limited to 102.80-85 and 103.05-10 should hold and bring further consolidation below Friday's high of 103.31, only break of said yesterday's low at 102.00 would add credence to our view that a minor top is formed at 103.31, bring correction to 101.83 support, however, downside should be limited to 101.50 and previous support at 101.25 should hold, bring another rally.

Dollar's retreat after last week's anticipated resumption of recent upmove suggests minor consolidation below Friday's high of 0.9761 would be seen and below the Ichimoku cloud bottom(now at 0.9670) would bring correction to 0.9637 (Friday's low) but reckon support at 0.9578 would limit downside and bring another upmove later. A break of said resistance at 0.9761 would extend recent upmove to 0.9785-87 (50% projection of 0.9331-0.9748 measuring from 0.9578)

Despite last week's resumption of decline to 1.5158 (Friday's low), lack of follow through selling on break of previous support at 1.5173 and the subsequent recovery suggest consolidation above this level would be seen and recovery to 1.5260-65 cannot be ruled out, however, still reckon resistance at 1.5323-31 would limit upside and bring another decline later. A break of said support at 1.5158 would extend recent decline to 1.5125-30

Euro's rebound after last week's resumption of decline to 1.2796 suggests consolidation above this level would be seen and test of intra-day resistance of 1.2878 and possibly Friday's high of 1.2890 cannot be ruled out, however, still reckon resistance at 1.2930 would limit upside and renewed selling interest should emerge around 1.2950, bring another decline later. A break of said support would extend recent decline to 1.2770-71

Dollar's retreat after Friday's brief rise to 103.31 suggests a minor top is possibly formed there and consolidation below this level would take place with mild downside bias, below the Ichimoku cloud bottom (now at 102.49) would bring another test of intra-day support at 102.00, break there would confirm and correction of recent rise to 101.83 support would follow but reckon downside would be limited to 101.50 and previous support at 101.25 should hold, bring another rally.

Despite Friday's anticipated resumption of recent upmove, lack of follow through buying and the several spikes formed on the hourly chart at the top of 0.9761 suggest minor consolidation below this level would be seen and below the Ichimoku cloud (now at 0.9658-63) would bring correction to 0.9637 (Friday's low) but reckon support at 0.9578 would limit downside and bring another upmove later. A break of said resistance at 0.9761 would extend recent upmove to 0.9785-87

Although cable resumed recent decline last Friday and fell to as low as 1.5158, loss of downward momentum should prevent sharp fall below 1.5125-30 (61.8% Fibonacci retracement of 1.4832-1.5607) and reckon 1.5113 (50% projection of 1.5593-1.5173 measuring from 1.5323) would limit downside and price should stay above 1.5060-65 (61.8% projection) today and bring rebound later.

Despite Friday's resumption of decline to 1.2796, the subsequent rebound suggests consolidation above this level would be seen and test of intra-day resistance of 1.2878 and possibly Friday's high of 1.2890 cannot be ruled out, however, still reckon resistance at 1.2930 would limit upside and bring another decline later. A break of said support would extend recent decline to 1.2770-71 (100% projection of 1.3194-1.2935 measuring from 1.3030)

Despite Friday's resumption of recent upmove to 103.31, the subsequent retreat from there to 102.00 (intra-day low) suggests a minor top is possibly formed there and consolidation below said resistance would take place with mild downside bias, below the Ichimoku cloud (now at 102.29-30) would bring another test of said support at 102.00, break there would confirm and correction of recent rise to 101.83 support would follow but reckon downside would be limited to 101.50

Despite Friday's anticipated resumption of recent upmove, lack of follow through buying and the several spikes formed on the hourly chart at the top of 0.9761 suggest minor consolidation below this level would be seen and below the Ichimoku cloud (now at 0.9654-63) would bring correction to 0.9637 (Friday's low) but reckon support at 0.9578 would limit downside and bring another upmove later. A break of said resistance at 0.9761 would extend recent upmove to 0.9785-87

Although cable resumed recent decline last Friday and fell to as low as 1.5158, loss of downward momentum should prevent sharp fall below 1.5125-30 (61.8% Fibonacci retracement of 1.4832-1.5607) and reckon 1.5113 (50% projection of 1.5593-1.5173 measuring from 1.5323) would limit downside and price should stay above 1.5060-65 (61.8% projection) today and bring rebound later.

Despite Friday's resumption of decline to 1.2796, the subsequent rebound suggests consolidation above this level would be seen and test of the Ichimoku cloud bottom (now at 1.2878) and possibly upper Kumo (now at 1.2887) cannot be ruled out, however, still reckon resistance at 1.2930 would limit upside and bring another decline later. A break of said support would extend recent decline to 1.2770-71

Despite Friday's resumption of recent upmove to 103.31, the subsequent retreat from there to 102.00 (intra-day low) suggests a minor top is possibly formed there and consolidation below said resistance would take place with mild downside bias, below the Ichimoku cloud (now at 102.29-30) would bring another test of said support at 102.00, break there would confirm and correction of recent rise to 101.83 support would follow but reckon downside would be limited to 101.50