Short-Term Forecasts: British Pound, Euro, US Dollar, Australian Dollar, Canadian Dollar and Swiss Franc

Euro / Dollar exchange rate forecast: BEARISH

Strong support is at 1.3103, a break below this would extend the weakness to 1.3021. Resistance is at 1.3223.

Dollar / Yen exchange rate forecast: BULLISH

The latest strength reinforces the broader bullish theme. There is potential for more upside to break through resistance at 101.53 and test 103.74. Support is at 97.89 ahead of 96.82.

Pound / Dollar exchange rate forecast: BULLISH

The recent upside opens the doors to test the strong resistance range at 1.5718/50. Support is at 1.5522 ahead of 1.5423.

USDCHF NEUTRAL

Initial resistance is at 0.9456, a break above would open major resistance at 0.9520. Support is at 0.9338 ahead of 0.9265.

Australian Dollar / US Dollar forecast: BEARISH

With the bearish trending indicators in place, any further recovery will find resistance at 0.9233. The risk is for resumption of downside, with support at 0.9038 ahead of 0.8848.

Dollar / Canadian Dollar forecast: NEUTRAL

The recent setback has strong support at 1.0369. A close below this would trigger a deeper sell-off to 1.0294 and then 1.0246. Resistance is at 1.0516 ahead of 1.0568.

Euro / Swiss Franc forecast: NEUTRAL

Resistance is at 1.2434 ahead of 1.2475. Support is at 1.2314 ahead of 1.2268.

Euro / Pound exchange rate forecast: BEARISH

Having tested the strong support at 0.8397, the immediate risk appears for a short-term recovery to unwind the sharp sell-off. Resistance is at 0.8492. Support is at 0.8285.

Euro / Yen forecast: BULLISH

Important resistance range is at 132.74 and 133.80. A close above which would extend the strength. Support is at 129.29.