Today’s highlights:
* EUR/GBP: An inside session sees a quiet start to the week and the spotlight still on the .7925/64 barrier, which we still look to try and cap to keep the medium-term trend lower.
* EUR/JPY: The sideways ranging theme continues to dominate, but while 97.73/72 minimally holds recovery risks remain to 100.00/01, ahead of 100.72 where we would expect selling.
* EUR/SEK: The trend remains lower and we expect a test of the 8.1736 low next. Below here would signal a fresh leg lower for 8.0480.
* EUR/NOK: The removal of the 7.2890 low keeps the focus on 7.2504. Capitulation through here would see weakness extend to 7.2176 next.
* NOKSEK: The ranging theme continues to dominate in the short term, but the overriding bias is for a test of the 1.1208/04 lows.
* AUDNZD: The spotlight remains on trend and retracement support at 1.2806/04. Capitulation here sees a more extended bear phase in the range for 1.2736 next, with scope to 1.2674.
Today’s trades/positions:
* EUR/GBP: Short at .7930, stop/reverse at .7969 for .7815.
* EUR/JPY: Long, stop below 97.70 for 100.00.
* EUR/SEK: Flat, sell at 8.3570, stop/reverse at 8.3850 for 8.1740.
* EUR/NOK: Short at 7.4316/29, stop at 7.4860 for 7.2200.
* NOK/SEK: Short at 1.1381, stop at 1.1455, target 1.1090.
* AUD/NZD: Reversed short, cover at 1.2804, stop at 1.2885.
Click here to read the full report: FX Daily
Credit Suisse