Today’s highlights:
NZDUSD: Breach of the .7469 October low to a new 7-month trough leaves the risk this week to key intermediate-term retrace foundation at .7433 and the November threat to critical long-term cycle support at .7335
USDCAD: Soaring through 1.0330/65 chart/retrace layers, building on the bullish “outside” Friday to now aim for 1.0484/95. Growing November risk back to the 1.0658 peak
AUDUSD: The .9910/9866 support cluster surrendered, with the bias this week remaining for a move towards .9728/9680
GBPUSD: Plunge through the 1.5719/17 support area to probe next support at 1.5632/14. Holding for now, but our November target remains closer to 1.5464
EURUSD: Further cautious basing ahead at 1.3431/22 support with prod at 1.3540/45 obstacles. Back through 1.3615 now needed, however, for a better bottom to aim for 1.3815
Today’s trades:
EURUSD: Long at 1.3485 for 1.3806; exit/reverse 1.3419
USDJPY: Short through 77.44 for 76.56; exit 77.92
GBPUSD: Flat, retry short at 1.5784 for 1.5476; exit 1.5906
USDCHF: Long from .8956, now for .9388; exit .9074
AUDUSD: Flat, retry short at .9988 for .9688; exit 1.0126
NZDUSD: Short on break of .7624 for .7441; exit .7756
USDCAD: Flat, try a long at 1.0276 for 1.0484; exit 1.0179
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/11/document-804650950.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS