Technical analysis: EUR/USD; USD/CHF; GBP/USD; USD/JPY

EUR/USD fell from session high on $1.3990 after ECB's Draghi said “ECB is comfortable with acting in June.”

The rate currently holds at $1.3860. Initial resistance remains at May 6 high on $1.3950. Above the initial resistance remains near $1.4000. Support comes at $1.3810 (Friday’s lows), extending to $1.3790/85.

GBP/USD holds below $1.7000. Further resistance comes at $1.7040 (Aug 2’2009 high). Below $1.6820 support comes at $1.6780 with a break under widens losses to $1.6700 and around Apr 15 lows on $1.6660.

USD/CHF tested Chf0.8790 and retreated a bit. Below support comes at Chf0.8700 (Mar 13 lows). Initial resistance is around Chf0.8800, then - at Friday’s high on Chf0.8840. Further resistance comes at Chf0.8900 and Chf0.8950 (Mar 4 highs).

USD/JPY currently at Y101.70/80. Initial resisatance is around Y102.75. Further resistance comes at Y103.40 and around Y104.00. Stronger one remains at Y104.30/80. Below support comes at Y101.30 (Apr 10 lows) and Y100.70 (Feb 7 lows).

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