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For the 24 hours to 23:00 GMT, the GBP declined 0.08% against the USD and closed at 1.2727.

In the Asian session, at GMT0300, the pair is trading at 1.2730, with the GBP trading a tad higher against the USD from yesterday’s close.

The pair is expected to find support at 1.2711, and a fall through could take it to the next support level of 1.2692. The pair is expected to find its first resistance at 1.2753, and a rise through could take it to the next resistance level of 1.2776.

Looking ahead, investors would focus on UK’s CBI trends orders for May, slated to release in a few hours.

The currency pair is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

For the 24 hours to 23:00 GMT, the USD declined 0.13% against the JPY and closed at 110.05.

In the Asian session, at GMT0300, the pair is trading at 110.18, with the USD trading 0.12% higher against the JPY from yesterday's close.

Overnight data showed that Japan's housing loans advanced 2.4% on an annual basis in 1Q 2019, compared to a similar rise in the preceding month.

The pair is expected to find support at 109.90, and a fall through could take it to the next support level of 109.63. The pair is expected to find its first resistance at 110.36, and a rise through could take it to the next resistance level of 110.55.

Moving forward, investors would keep an eye on Japan's trade balance data for April and machine orders for March, scheduled to release overnight.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 1.2703; (P) 1.2736; (R1) 1.2757; More....

Despite diminishing downside momentum, there is no sign of bottoming in GBP/USD yet. Intraday bias remains on the downside. Current fall from 1.3381 is in progress for retesting 1.2391 low. Larger decline from 1.4376 might be resuming. Break of 1.2391 will target 61.8% projection of 1.4376 to 1.2391 from 1.3381 at 1.2154 next. On the upside, above 1.2757 minor resistance will turn intraday bias neutral for consolidation first before staging another decline.

In the bigger picture, current development suggests that medium term decline from 1.4376 (2018 high) is not completed, and is possibly ready to resume. Decisive break of 1.2391 would target a test on 1.1946 long term bottom (2016 low). For now, we don't expect a firm break there yet. Hence focus will be on bottoming signal as it approaches 1.1946. In any case, medium term outlook will stay bearish as long as 1.3381 resistance holds, in case of rebound.

For the 24 hours to 23:00 GMT, the USD declined 0.29% against the CHF and closed at 1.0084.

On the macro front, Switzerland’s total sight deposits rose to a level of CHF578.3 billion in the week ended 17 May, from CHF578.1 billion in the previous week.

In the Asian session, at GMT0300, the pair is trading at 1.0094, with the USD trading 0.10% higher against the CHF from yesterday’s close.

The pair is expected to find support at 1.0076, and a fall through could take it to the next support level of 1.0059. The pair is expected to find its first resistance at 1.0116, and a rise through could take it to the next resistance level of 1.0139.

With no macroeconomic releases in Switzerland today, investors would look forward to global macroeconomic releases for further direction.

The currency pair is trading between its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 1.0070; (P) 1.0096; (R1) 1.0112; More...

Intraday bias in USD/CHF remains neutral for now and, with 1.0126 support turned resistance intact, another decline is mildly in favor. On the downside, break of 1.0050 will resume the fall from 1.0237 to retest 0.9879 key support. However, firm break of 1.0126 will turn bias back to the upside for 1.0237 resistance.

In the bigger picture, as long as 0.9879 support holds, medium term up trend form 0.9186 is still in progress. Break of 1.0237 will target 1.0342 resistance next. For now, we'd be cautious on strong resistance from there to limit upside, until we see medium term upside acceleration. However, decisive break of 0.9879 will be a strong sign of medium term reversal. Focus will be turned back to 0.9716 support for confirmation.

For the 24 hours to 23:00 GMT, the USD declined 0.05% against the CAD and closed at 1.3429.

In the Asian session, at GMT0300, the pair is trading at 1.3425, with the USD trading marginally lower against the CAD from yesterday’s close.

The pair is expected to find support at 1.3412, and a fall through could take it to the next support level of 1.3398. The pair is expected to find its first resistance at 1.3443, and a rise through could take it to the next resistance level of 1.3460.

Amid lack of economic releases in Canada today, traders would focus on global macroeconomic events for further direction.

The currency pair is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, the AUD slightly declined against the USD and closed at 0.6910.

LME Copper prices declined 0.7% or $40.0/MT to $5985.0/MT. Aluminium prices declined 3.5% or $64.0/MT to $1786.0/MT.

In the Asian session, at GMT0300, the pair is trading at 0.6912, with the AUD trading marginally higher against the USD from yesterday’s close.

The minutes of the Reserve Bank of Australia’s (RBA) May monetary policy meeting showed that the policymakers would consider trimming the interest rate, if no improvement in the labour market is observed. Further, the central bank highlighted downside risks to the household consumption growth and global economy.

The pair is expected to find support at 0.6899, and a fall through could take it to the next support level of 0.6887. The pair is expected to find its first resistance at 0.6929, and a rise through could take it to the next resistance level of 0.6947.

Going ahead, traders would keep an eye on Australia’s Westpac leading index for April, set to release overnight.

The currency pair is showing convergence with its 20 Hr moving average and trading above its 50 Hr moving average.

For the 24 hours to 23:00 GMT, Gold rose 0.06% against the USD and closed at USD1277.50 per ounce, amid weakness in the greenback.

In the Asian session, at GMT0300, the pair is trading at 1275.70, with gold trading 0.14% lower against the USD from yesterday’s close.

The pair is expected to find support at 1273.07, and a fall through could take it to the next support level of 1270.43. The pair is expected to find its first resistance at 1278.57, and a rise through could take it to the next resistance level of 1281.43.

The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.

Daily Pivots: (S1) 109.81; (P) 110.06; (R1) 110.32; More...

Intraday bias in USD/JPY remains neutral as consolidation from 109.02 temporary low is extending. Upside should be limited by 55 day EMA (now at 110.83) to bring another fall. On the downside, break of 109.02 will extend the decline from 112.40 to retest 104.69 low.

In the bigger picture, USD/JPY is staying inside falling channel from 118.65. Currently development suggests that rebound from 104.69 is only a corrective move. And fall from 118.65 is not completed yet. Decisive break of 104.69 will extend the down trend towards 98.97 support (2016 low). For now, we'd expect strong support above there to bring rebound.

For the 24 hours to 23:00 GMT, Silver rose 0.21% against the USD and closed at USD14.44 per ounce, tracking gains in gold prices.

In the Asian session, at GMT0300, the pair is trading at 14.43, with silver trading 0.10% lower against the USD from yesterday’s close.

The pair is expected to find support at 14.37, and a fall through could take it to the next support level of 14.31. The pair is expected to find its first resistance at 14.47, and a rise through could take it to the next resistance level of 14.52.

The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.