Today’s highlights:
* EURUSD: Plunge from trend barriers (1.3275/3300) through trend/chart supports (1.3200/1.3157) aims for 1.3058.
* NZDUSD: Break of chart/200-DMA support, to prod key .8059/50 foundations and signal a bigger top and more bearish outlook into Q2 towards .7920 and .7790 retrace targets.
* NZDJPY: A probe this morning of the 38.2% retrace of the November-March rally to spotlight the 200-day MA, currently 63.23, into mid-May. We still aim for targets set at 61.75 and 59.65 from previous notes.
* USDJPY: Rebound failure ahead of trend resistance, now 81.00, leaves risk down to 79.15 retrace target (maybe to the 200-DMA into mid-May, currently 78.37).
Today’s trades/positions:
* EURUSD: Short 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 .8160 for .7925; exit .8260.
* USDCAD: Short at .9970 for .9790; exit 1.0085.
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Fixed Income Research & Analytics