Today’s highlights:
* EURUSD: Aggressive rally higher leads to a re-test of the 1.2387/8 resistance hurdle. Failure here keeps the downside threat alive, but above exposes 1.2444/79.
* GBPUSD: Prod above the 200-day average neutralises the immediate downside threat, exposing the broader range resistance zone of 1.5768/85. We expect this to cap.
* AUDUSD: Failure ahead of 1.0543 key trend resistance keeps the bias skewed to the downside for through 1.0436/55 to 1.0352 channel support and then the 200 DMA, at 1.0291.
* USDCAD: Acceleration lower keeps the immediate focus on the .9827 interim chart support level and then ultimately the .9799 low.
Today’s trades/positions:
* EURUSD: Short from 1.2340, now targeting 1.1901, stop at 1.2390.
* USDJPY: Long from 78.61, for 79.70, stop at 78.15.
* GBPUSD: Long from 1.5700. Stop/reverse to short through 1.5656, target/reverse now 1.5700.
* USDCHF: Reversed long at .9754, add at .9680, for 9960, stop/reverse at .9646.
* AUDUSD: Long from 1.0512 targeting 1.0660, stop/reverse now at 1.0460 (for 1.0210).
* NZDUSD: Stopped out at .8125. Sell again at .8135, or through .8055, targeting .7900, stop at .8175.
* USDCAD: Stopped out at .9890. Sell at .9918 targeting .9835, stop/reverse through .9945.
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