Today’s highlights:
* EURUSD: “Inside/outside” pattern caution this week reflects reluctance to overcome trend barriers, now 1.3280/3305. Risk now through trend and chart support (1.3200, 1.3157) towards 1.3058.
* USDJPY: Modest bounce to be capped by trend resistance, now 81.10, with break of 80.11/00 retrace/chart support still aiming down to 79.15 retrace target
* NZDJPY: Already an approach to our next target at the 38.2% retrace of the November-March rally, 64.50. Through here opens the door to the 200-day MA, currently 63.24, into May.
* USDTRY: The intermediate-term bearish reversal through the 2010-12 trend support further reinforced, with May targets now set at the 1.7330 low and 1.7180/1.7089 retrace price support cluster.
Today’s trades/ positions:
* EURUSD: Short entered at 1.3280 for 1.3115; exit 1.3335.
* USDJPY: Flat, retry long at 79.20 for 81.20; exit 78.20.
* GBPUSD: Flat, try long at 1.6140 for 1.6450; exit 1.6040.
* USDCHF: Long at .9106 for .9330; exit .8988.
* AUDUSD: Flat, retry short at 1.0420 for 1.0120; exit 1.0510.
* NZDUSD: Flat, retry short at .8245 for .8060; exit .8327.
* USDCAD: Short at .9970 for .9790; exit 1.0085.
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Credit Suisse
Fixed Income Research & Analytics