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Daily Pivots: (S1) 1.1541; (P) 1.1564; (R1) 1.1602; More....

Intraday bias in EUR/CHF remains neutral first. Near term outlook is unchanged that the corrective pattern from 1.2004 is expected to extend with at least one more decline. One the downside, break of 1.1505 minor support will turn bias to the downside for retesting 1.1366 low first. Above 1.1656 will extend the rebound to 61.8% retracement of 1.2004 to 1.1366 at 1.1760. But, we'll look for reversal signal above 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) 146.47; (P) 146.78; (R1) 147.25; More...

Intraday bias in GBP/JPY remains neutral as range trading continues below 148.10. On the upside, above 148.10 will resume the rebound from 143.18 and target 149.99, and then 153.84 resistance. However, break of 145.82 minor support will argue that the rebound from 143.18 is completed and bring retest of this low.

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.

For the 24 hours to 23:00 GMT, the EUR rose 0.34% against the USD and closed at 1.1609 on Friday.

In economic news, the Euro-zone's final consumer price index (CPI) climbed by 1.9% on an annual basis in May, in line with market expectation and meeting the preliminary print. In the prior month, the CPI had recorded a revised gain of 13%. Additionally, the region's seasonally adjusted trade surplus narrowed to a six-month low of €18.1 billion in April, after recording a surplus of €21.2 billion in the previous month. Markets were expecting the region's trade surplus to narrow to €20.0 billion.

Separately, in Germany, the Bundesbank downgraded the country's growth forecast for 2018 to 2.0% from 2.5% projected in December. However, the bank raised its forecast to 1.9% and 1.6% for 2019 and 2020, respectively.

In the US, the New York Empire State manufacturing index unexpectedly increased to a level of 25.0 in June, compared to a level of 20.1 in the previous month and confounding market consensus for it to ease to a level of 18.8. Moreover, the nation's industrial production unexpectedly fell 0.1% MoM in May, confounding market expectations for a rise of 0.2%. In the prior month, industrial production had registered a revised rise of 0.9%. Further, manufacturing production dropped 0.7% on a monthly basis in May, while markets were expecting for a flat reading. In the previous month, manufacturing production had recorded a revised gain of 0.6%. Meanwhile, the preliminary Reuters/Michigan consumer sentiment index climbed to a level of 99.3 in May, exceeding market expectations for a rise to a level of 98.5. In the previous month, the index had recorded a reading of 98.0.

In the Asian session, at GMT0300, the pair is trading at 1.1588, with the EUR trading 0.18% lower against the USD from Friday's close.

The pair is expected to find support at 1.1545, and a fall through could take it to the next support level of 1.1502. The pair is expected to find its first resistance at 1.1629, and a rise through could take it to the next resistance level of 1.1670.

In absence of crucial macroeconomic releases in the Euro-zone today, investors would keep a close watch on the US NAHB housing market index for June, set to release later in the day.

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 GBP rose 0.17% against the USD and closed at 1.3280 on Friday.

In the Asian session, at GMT0300, the pair is trading at 1.3269, with the GBP trading 0.08% lower against the USD from Friday’s close.

Overnight data showed that UK’s Rightmove house price index climbed 0.4% on a monthly basis in June, following a gain of 0.8% in the prior month.

The pair is expected to find support at 1.3221, and a fall through could take it to the next support level of 1.3174. The pair is expected to find its first resistance at 1.3307, and a rise through could take it to the next resistance level of 1.3346.

In absence of key economic releases in the UK today, investor sentiment would be determined by global macroeconomic events.

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 rose 0.05% against the JPY and closed at 110.60 on Friday.

In the Asian session, at GMT0300, the pair is trading at 110.44, with the USD trading 0.14% lower against the JPY from Friday’s close.

Overnight data revealed that Japan posted a total trade deficit of ¥578.3 billion in May, following a revised surplus of ¥624.6 billion in the previous month. Markets were expecting the nation to post a deficit of ¥205.2 billion.

The pair is expected to find support at 110.19, and a fall through could take it to the next support level of 109.95. The pair is expected to find its first resistance at 110.79, and a rise through could take it to the next resistance level of 111.15.

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

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

For the 24 hours to 23:00 GMT, the USD remained flat against the CHF and closed at 0.9970 on Friday.

In the Asian session, at GMT0300, the pair is trading at 0.9973, with the USD trading a tad higher against the CHF from Friday’s close.

The pair is expected to find support at 0.9950, and a fall through could take it to the next support level of 0.9927. The pair is expected to find its first resistance at 0.9992, and a rise through could take it to the next resistance level of 1.0011.

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, the USD rose 0.46% against the CAD and closed at 1.3193 on Friday.

The Canadian Dollar declined against the USD, after Canada's manufacturing sales unexpectedly declined by 1.3% on a monthly basis in April, as sales in petroleum, coal and transportation equipment sectors dropped. In the prior month, manufacturing shipments had registered a rise of 1.4%, while markets had envisaged for a rise of 0.6%. Moreover, the nation's existing home sales dropped 0.1% on a monthly basis in May, posting its lowest level in the past five years and compared to a fall of 2.9% in the prior month. Markets were anticipating existing home sales to fall 1.7%.

In the Asian session, at GMT0300, the pair is trading at 1.3185, with the USD trading 0.06% lower against the CAD from Friday's close.

The pair is expected to find support at 1.3135, and a fall through could take it to the next support level of 1.3084. The pair is expected to find its first resistance at 1.3222, and a rise through could take it to the next resistance level of 1.3258.

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

For the 24 hours to 23:00 GMT, the AUD declined 0.24% against the USD and closed at 0.7444 on Friday.

LME Copper prices declined 0.81% or $58.0/MT to $7139.0/MT. Aluminium prices declined 1.67% or $38.0/MT to $2239.5/MT.

In the Asian session, at GMT0300, the pair is trading at 0.7442, with the AUD trading marginally lower against the USD from Friday’s close.

The pair is expected to find support at 0.7419, and a fall through could take it to the next support level of 0.7395. The pair is expected to find its first resistance at 0.7473, and a rise through could take it to the next resistance level of 0.7503.

Going ahead, investors would closely monitor Australia’s 1Q house price index and the Reserve Bank of Australia’s June meeting minutes, slated to release overnight.

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

For the 24 hours to 23:00 GMT, Gold declined 1.83% against the USD and closed at USD1282.10 per ounce on Friday.

In the Asian session, at GMT0300, the pair is trading at 1282.30, with gold trading slightly higher against the USD from Friday’s close.

The pair is expected to find support at 1271.40, and a fall through could take it to the next support level of 1260.50. The pair is expected to find its first resistance at 1299.70, and a rise through could take it to the next resistance level of 1317.10.

The yellow metal is trading below its 20 Hr and 50 Hr moving averages.

For the 24 hours to 23:00 GMT, Silver declined 3.66% against the USD and closed at USD16.58 per ounce on Friday.

In the Asian session, at GMT0300, the pair is trading at 16.52, with silver trading 0.39% lower against the USD from Friday’s close.

The pair is expected to find support at 16.23, and a fall through could take it to the next support level of 15.94. The pair is expected to find its first resistance at 17.04, and a rise through could take it to the next resistance level of 17.56.

The white metal is trading below its 20 Hr and 50 Hr moving averages.