Today’s highlights:
EUR/USD: Rebound results in a break above 1.4453; however, medium-term trading range still remains intact, and while below 1.4518/37/79 resistance risk is to 1.4150
GBP/USD: Topping structure continues to unfold after the market failed at 1.6573, below the 1.6619 high. We still look for a breakdown through 1.6422 support for 1.6300
AUD/USD: Rallying back towards key resistance placed at 1.0603. While below here, however, our bias remains bearish for a setback to 1.0111 interim support initially
NZD/USD: Rally back towards key pivotal .8426 resistance looks to be failing. We continue to be negative whilst .8426 resistance continues to cap, targeting lower to .8069/78
Today’s trades:
EUR/USD: Stopped out at 1.4460. Retry short again at 1.4485 targeting 1.4160, stop placed at 1.4585
USD/JPY: Average short from 76.48. Target 74.85, stop at 77.40
GBP/USD: Short from 1.6500 targeting 1.6300, stop placed at 1.6640
USD/CHF: Long at .7830 for .8060, stop/reverse through .7755 (for target/reverse of .7653)
AUD/USD: Average short at 1.0453, target 1.0210, stop at 1.0610
NZD/USD: Averaged short at .8273, target .8000, stop placed at .8426
USD/CAD: Long at .9882 targeting 1.0100, stop/reverse through .9810
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Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS