Today’s highlights:
– EURUSD: Holding the 1.2836/29 support cluster we expect a break above trendline resistance now 1.2920 followed by an extension
higher to 1.3048 first.
– USDCHF: Stalling ahead of the .9423 key near term chart/trend resistance hurdle. We expect a reversal lower, with risk back to .9285, then .9238.
– AUDUSD: Rebounding back toward near term trend resistance at 1.0464, after support is found within our target zone at 1.0328. We see risk back to 1.0521 initially.
– NZDUSD: Holding the 38.2% retracement support level of .8187 well. We believe the correction lower is over earlier than expected, and envisage a return to .8354.
Today’s trades/positions:
– EURUSD: Long at 1.2915, added at 1.2840, stop at 1.2762, target at 1.3040.
– USDJPY: Long from 77.60, targeting 79.05, stop at 77.10.
– GBPUSD: Short from 1.6215, target now 1.6099, stop now at 1.6260.
– USDCHF: Short from .9380, targeting .9155, stop at .9430.
– AUDUSD: Short from 1.0379, target/reverse now 1.0379, stop/reverse through 1.0464.
– NZDUSD: Short from .8245, targeting .8130, stop/reverse through .8288 (for .8420).
– USDCAD: Long through .9780, added at .9752, target now .9890, stop now at .9820. Buy again at .9734.
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Credit Suisse