Today’s highlights:
– EURUSD: Gaining traction at 1.2889/91 chart/minor 38.2% retracement support. We expect a rebound higher through 1.2997 towards 1.3048 resistance.
– USDCHF: Approaching the key 200-day average at chart resistance hurdle of .9423. We look for .9400/.9423 to cap, with reversal potential back to .9238.
– USDJPY: Market breaks below the 61.8% Fibonacci retracement support level of 77.93. We highlight next support level at 77.58.
– NZDUSD: Removal of .8208 prior neckline support turns the bias lower, but the market is stalling at the .8187 38.2% retracement. Despite this, risk remains lower to .8130.
Today’s trades/positions:
– EURUSD: Short from 1.3005, added at 1.3095, target/reverse 1.2915, stop/reverse now 1.2997.
– USDJPY: Buy again at 77.60, targeting 79.05, stop at 77.10.
– GBPUSD: Short from 1.6215 target now 1.6076, stop at 1.6315.
– USDCHF: Short from .9380 targeting .9155, stop at .9430.
– AUDUSD: Sell again at 1.0475, targeting 1.0340, stop/reverse at 1.0512.
– NZDUSD: Short from .8245 targeting .8130, stop at .8295.
– USDCAD: Long through .9780, added at .9752, target now .9890, stop at .9724.
Click here to read the full report: FX Daily
Credit Suisse