Greetings again, Everyone!

As is usually the case ( but certainly not always!…), we see the Sharp and Angular Depreciation of most Currency Units and their Dollar and Yen Strengths take some of that Momentum of the past few Sessions to initiate Sharp Reversals and Breaks… otherwise known as “Short Squeezes”… “Dead Cat Bounces”… or “Bear Market Rallies”.

Whichever Term you wish to use…the Result is the same… where we have Sentiment of Price being “Re-Set” by Institutional Views and/or Rhetoric and Events…. in most cases.

We have May Existing Home Sales coming in lower than expected..but overall… relatively In-Line with Consensus… as The Richmond Fed Index does as well… so these are largely “Benign’ factors moving forward in term of Market Sentiment.

With a lot of “Focus” on The Euro, let’s check in with other Variables concerning The Dollar and The Yen with the AUD/JPY and the NZD/USD.

Give the Hourly Captures a Click, and Post-Time is 15:40 GMT.

The Kiwi does not quite feel the inherent Dollar Weakness in this case, as The Dollar looks to regain some of Its Corrective losses in the past few Hours.

While the .6360’s “Transitive Rollover” Area is still holding and functioning “correctly” as Resistance, we may see the Swing Momentum simply take Price back to the .6240’s Static Support Levels in the Near-Term.

The Kiwi needs a significant break and Hold above the .6360’s for any solid Bullish Momentum to continue from the IntraDay Perspective.

Aussie Yen, on the other hand, still retains the “historical Momentum” concerning  Carryover with The Commodities on the larger Daily Views with a normal Corrective Retracement… The Hourly sees Yen Strength defining a New “Transitive Rollover” at the 75.00 Handle.

The Lower Dynamic Uptrend Line of the Daily L.R. Channel may come into more Relevance, as Price may either Violate it down to the Downside in favor of the Weekly 38.2 Fib Variant of the July ‘08 Highs A  the .7386 Area. Support at the Area may see Appreciation through to the 76.00 Handle Resistance through a potential “Rounded Double-Bottom” from the 74.30’s Dynamic Support.

As always, please check in, as I will have more Updates as we move along throughout our Day!

See You Soon!