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For the 24 hours to 23:00 GMT, Silver declined 1.21% against the USD and closed at USD16.32 per ounce, tracking losses in gold prices.

In the Asian session, at GMT0300, the pair is trading at 16.34, with silver trading 0.12% higher against the USD from yesterday’s close.

The pair is expected to find support at 16.20, and a fall through could take it to the next support level of 16.07. The pair is expected to find its first resistance at 16.51, and a rise through could take it to the next resistance level of 16.69.

The white metal 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, Crude Oil declined 0.97% against the USD and closed at USD65.11 per barrel.

The American Petroleum Institute (API) reported that US crude oil stockpiles fell by 3 million barrels to 430.6 million barrels in the week ended 15 June.

In the Asian session, at GMT0300, the pair is trading at 65.36, with oil trading 0.38% higher against the USD from yesterday's close.

The pair is expected to find support at 64.61, and a fall through could take it to the next support level of 63.86. The pair is expected to find its first resistance at 65.89, and a rise through could take it to the next resistance level of 66.42.

Crude oil is trading above its 20 Hr and 50 Hr moving averages.

Daily Pivots: (S1) 144.08; (P) 145.30; (R1) 146.21; More...

Intraday bias in GBP/JPY remains on the downside for 143.18 support. Firm break there will resume larger decline from 156.59 and target 139.25/47 cluster support level. On the upside, break of 146.46 minor resistance is needed to indicate completion of the fall from 148.10. Otherwise, deeper decline will now be in favor in case of recovery.

In the bigger picture, no change in the view that decline from 156.59 is a corrective move. In case of another fall, strong support should be seen above 139.29 cluster support (50% retracement of 122.36 to 156.59 at 139.47) to contain downside and bring rebound. Meanwhile, break of 153.84 should confirm that the correction is completed and target 156.59 and above to resume the medium term up trend.

Daily Pivots: (S1) 126.61; (P) 127.59; (R1) 128.55; More....

Intraday bias in EUR/JPY remains mildly on the downside. Rebound from 124.61 could have finished at 130.33 already, after rejection by 55 day EMA. Deeper fall would be seen back to 124.08/61 support zone. On the upside, break of 128.50 minor resistance is needed to indicate completion of the fall. Otherwise, deeper decline will remain in favor even in case of recovery.

In the bigger picture, despite rebounding strongly ahead of 124.08 resistance turned support, there was no clear follow through buying. Note again that there is bearish divergence in daily MACD. Firm break of 124.08 will confirm trend reversal. That is, whole rise from 109.03 (2016 low) has completed at 137.49 already. In that case, deeper fall should be seen back to 61.8% retracement of 109.03 to 137.49 at 119.90 and below. Nonetheless, decisive break of 133.47 key resistance will likely extend the rise from 109.03 through 137.49 high.

Daily Pivots: (S1) 0.8764; (P) 0.8782; (R1) 0.8811; More...

No change in EUR/GBP's outlook as range trading continues inside 0.8693/8844. Intraday bias remains neutral. With 0.8693 minor support intact, we'd favor another rise. On the upside, break of 0.8844 will resume the rebound from 0.8620 for 0.8967 cluster resistance (50% retracement of 0.9305 to 0.8620 at 0.8963). However, break of 0.8693 will bring deeper fall back to retest 0.8620 low.

In the bigger picture, for now, the decline from 0.9305 is seen as a leg inside the long term consolidation pattern from 0.9304 (2016 high). Such consolidation pattern could extend further. Hence, in case of strong rally, we'd be cautious on strong resistance by 0.9304/5 to limit upside. Meanwhile, in another decline attempt, we'd expect strong support from 0.8116 cluster support (50% retracement of 0.6935 to 0.9304 at 0.8120) to contain downside.

Daily Pivots: (S1) 1.5635; (P) 1.5695; (R1) 1.5759; More....

EUR/AUD's rebound stalled at 1.5750, below 1.5773 key support turned resistance. Intraday bias is turned neutral first. ON the downside, break of 1.5601 minor support will turn bias to the downside for 1.5425. Break there will confirm completion of rebound from 1.5271 and target this low again. Meanwhile, sustained break of 1.5773 will indicate that whole decline from 1.6189 has completed with three waves down to 1.5271 already. And retest of 1.6189 should be seen next.

In the bigger picture, focus is back on 1.5773 support turned resistance with the current strong rebound. Firm break there will argue that medium term rise from 1.3624 (2017 low) is not completed yet. Further break of 1.6189 will target 1.6587 key resistance (2015 high). Though, rejection by 1.5773 will revive the case of bearish trend reversal and target 61.8% retracement of 1.3624 to 1.6189 at 1.4604.

Daily Pivots: (S1) 1.1481; (P) 1.1528; (R1) 1.1570; More....

The break of 1.1505 minor support argues that rebound from 1.1366 might be completed at 1.1656 already. Intraday bias is mildly on the downside for retesting 1.1366 first. Break there will resume the corrective fall from 1.2004. On the upside, though, above 1.1585 will likely extend the rebound from 1.1366 through 1.1656. But in that case, upside should be limited by 61.8% retracement of 1.2004 to 1.1366 at 1.1760.

In the bigger picture, current development suggests solid rejection by prior SNB imposed floor at 1.2000. Considering bearish divergence condition in daily and weekly MACD, 1.2004 should be a medium term top. And price action from 1.2004 is correcting the up trend from 1.0629. Such correction is expected to extend for a while and therefore, we're not anticipating a break of 1.2004 in near term. Another decline cannot be ruled out yet. But in that case, strong support should be seen at 1.1198 (2016 high), 61.8% retracement of 1.0629 to 1.2004 at 1.1154 to contain downside.

Daily Pivots: (S1) 0.7344; (P) 0.7386; (R1) 0.7424; More...

A temporary low is in place at 1.7346 with the current recovery, ahead of 0.7328 cluster support (61.8% retracement of 0.6826 to 0.8135 at 0.7326). Intraday bias is turned neutral first. Some consolidations could be seen. But upside of recovery should be limited well below 0.7676 resistance to bring another fall. Firm break of 0.7382 will target 61.8% projection of 0.8135 to 0.7411 from 0.7676 at 0.7229 next.

In the bigger picture, medium term rebound from 0.6826 is seen as a corrective move. Prior break of 0.7500 key support suggests that such correction is completed at 0.8135. Deeper decline would be seen back to retest 0.6826 low. In case of another rise, we'd expect strong resistance from 38.2% retracement of 1.1079 to 0.6826 at 0.8451 to limit upside to bring long term down trend resumption eventually.

Daily Pivots: (S1) 1.3219; (P) 1.3258; (R1) 1.3324; More...

Intraday bias in USD/CAD remains on the upside. Current rally is expected to target 100% projection of 1.2246 to 1.3124 from 1.2526 at 1.3404 next. On the downside, below 1.3207 minor support will turn intraday bias neutral and bring consolidation first, before staging another rise.

In the bigger picture, current development solidify the view of bullish trend reversal. That is fall from 1.4689 (2015 high) has completed at 1.2061, ahead of 50% retracement of 0.9406 (2011 low) to 1.4689 (2015 high) at 1.2048. Further rally should be seen for 61.8% retracement of 1.4689 to 1.2061 at 1.3685 and above. This will now be the preferred case as long as 1.2526 support holds, even in case of deep pull back.

Daily Pivots: (S1) 109.54; (P) 110.07; (R1) 110.60; More...

USD/JPY recovered after hitting 109.54 and intraday bias is turned neutral first. Outlook remains unchanged. Price actions from1 111.39 are viewed as a corrective pattern, with fall from 110.89 as the third leg. Below 109.54 will target 108.10 and possibly below. But, we'd expect strong support from 61.8% retracement of 104.62 to 111.39 at 107.20 to contain downside and bring rebound. On the upside, though, above 110.89 will bring retest of 111.39 instead.

In the bigger picture, at this point, we're slightly favoring the case that corrective decline from 118.65 (2016 high) has completed with three waves down to 104.62. Above 111.39 will affirm this view and target 114.73 for confirmation. However, it should be noted that USD/JPY is bounded in medium term falling channel from 118.65 (2016 high). Sustained break of 61.8% retracement of 104.62 to 111.39 at 107.20 will likely resume the fall from 118.65 through 104.62 low.