Today’s highlights:
EUR/USD: Setback from the 2011 topping line, 1.4450 leaves risk of defensive consolidation early this week. Below 1.4324 today would aim at 1.4139; month-end risk to 1.4015
USD/JPY: Cautious probe and another defence of 78.25 retrace support. We still look for a rebound back to the range
USD/CHF: Reluctant base effort with .8278 new upside barrier intact. Erosion this a.m. leaves bear extension risk through .8044 to .7845
AUD/USD: Bullish “outside” Thursday falters at 1.0881/90, retrace/chart area, but break above 1.0804 leaves month-end risk for a retest of 1.1014 peak/key 1.1035
Today’s trades:
EUR/USD: Flat; would try short at 1.4434 for 1.4229. Exit to flat here or reverse to long above 1.4456
USD/JPY: Reversed to a short at 78.19 for 77.06; reverse back to long above 78.76
GBP/USD: Flat, sell at 1.6328 for 1.6203; exit/reverse 1.6385
USD/CHF: Short at .8234 for .8006; exit .8282
AUD/USD: Unwanted short at 1.0794; reverse to long at 1.0794 or above 1.0894
NZD/USD: Retry long at .8530 for .8900; exit .8412
USD/CAD: Re-entered short at .9513 for .9276; exit .9651
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http://www.easyforexnews.net/wp-content/uploads/2011/07/document-804260940.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS