CURRENCIES

The June Dollar closed higher due to short covering on Friday as it
consolidated some of this year's decline. The mid-range close sets the stage
for a steady opening on Monday. Stochastics and the RSI are oversold but remain
bearish signaling that sideways to lower prices are possible near-term. If June
extends this winter's decline, weekly support crossing at 74.21 is the next
downside target. Closes above the 20-day moving average crossing at 76.78 are
needed to confirm that a short-term low has been posted. First resistance is
the 10-day moving average crossing at 75.46. Second resistance is the 20-day
moving average crossing at 75.78. First support is today's low crossing at
74.82. Second support is weekly support crossing at 74.21.


The June Euro posted an inside day with a lower close on Friday as it
consolidates some of this year's rally. The mid-range close sets the stage for
a steady opening on Monday. Stochastics and the RSI are overbought but remain
neutral to bullish signaling that sideways to higher prices are possible
near-term. If June extends this year's rally, the 2009-high crossing at 145.84
is the next upside target. Closes below the 20-day moving average crossing at
142.46 are needed to confirm that a short-term top has been posted. First
resistance is Wednesday's high crossing at 145.00. Second resistance is weekly
resistance crossing at 145.84. First support is the 10-day moving average
crossing at 143.58. Second support is the 20-day moving average low crossing at
142.46.


The June British Pound posted an inside day with a lower close on Friday.
The low-range close sets the stage for a steady to lower opening on Monday.
Stochastics and the RSI are neutral signaling that sideways trading is possible
near-term. Closes below the 20-day moving average crossing at 1.6197 would
confirm that a short-term top has been posted. If June renews the rally off
March's low, weekly resistance crossing at 1.6454 is the next upside target.
First resistance is last Friday's high crossing at 1.6414. Second resistance is
weekly resistance crossing at .16454. First support is the 10-day moving
average crossing at 1.6279. Second support is the 20-day moving average
crossing at 1.6197.


The June Swiss Franc posted an inside day with a lower close on Friday as it
consolidated some of this week's rally. The high-range close sets the stage for
a steady to higher opening on Monday. Stochastics and the RSI are overbought
but remain bullish signaling that sideways to higher prices are possible
near-term. If June extends this year's rally into uncharted territory, upside
targets will be hard to project. Closes below the 20-day moving average
crossing at .10983 would confirm that a short-term top has been posted. First
resistance is Thursday's high crossing at .11244. First support is the 20-day
moving average crossing at .10983. Second support is the reaction low crossing
at .10710.


The June Canadian Dollar closed slightly lower on Friday but the high-range
close sets the stage for a steady to higher opening on Monday. Stochastics and
the RSI are bearish signaling that sideways to lower prices are possible
near-term. Closes below the 20-day moving average crossing at 103.14 would
confirm that top has been posted. If June renews the rally off March's low,
monthly resistance crossing at 106.19 is the next upside target. First
resistance is last Friday's high crossing at 104.81. Second resistance is
monthly resistance crossing at 106.19. First support is the 20-day moving
average crossing at 103.14. Second support is the reaction low crossing at
101.58.


The March Japanese Yen closed higher on Friday as it extends the rally off
last week's low. The high-range close sets the stage for a steady to higher
opening on Monday. Stochastics and the RSI are bullish signaling that sideways
to lower prices are possible near-term. Closes above the 20-day moving average
crossing at .12040 would temper the near-term bearish outlook. If June renews
the decline off March's high, the 62% retracement level of the 2010-2011-rally
crossing at .11526 is the next downside target. First resistance is the 20-day
moving average crossing at .12040. Second resistance is the reaction high
crossing at .12398. First support is last Wednesday's low crossing at .11697.
Second support is the 62% retracement level of the 2010-2011-rally crossing at
.11526.
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