Today’s highlights:
· EURUSD: Clear break above 1.3292/94 negates any defensive bias for a more constructive tone, with risk to the 1.3487/3510 major resistance
· GBPUSD: Eyes the Q1 recovery peak at 1.5991, through which opens the door to the Q4 (near 7-month) high, 1.6167 (interim hurdle 1.6090)
· AUDUSD: Bounce ahead of the six-month trend line support (1.0310), but only above trend resistance, 1.0545, eases bear risks (we look for a cap here)
· NZDUSD: A further rebound from the upper end of our .8050/7996 target area, but whilst capped below .8282, we see risk into early April lower to .7920
· USDCAD: Recovery failure ahead of critical pivot barriers at 1.0051/71. Risk back to and potentially through the cycle low, .9842 (for .9780 next)
Today’s trades:
· EURUSD: Flat, buy at 1.3220 for 1.3490; exit 1.3120
· USDJPY: Long at 82.16 for 85.40; exit 80.40
· GBPUSD: Flat, buy at 1.5825 for 1.6075; exit 1.5745
· USDCHF: Clinging to a long at .9081 for .9170; exit/reverse .9019
· AUDUSD: Short at 1.0780, now for 1.0270; exit 1.0680
· NZDUSD: Short at .8400; target is .8050; exit .8300
· USDCAD: Short at .9970 for .9790; exit 1.0085
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