Today’s highlights:
– EURUSD: Support found at 1.2803 trendline support ahead of the 1.2740 38.2% retracement. We expect a breakout above 1.2838 to allow for risk up to 1.3048 initially, then 1.3172.
– USDJPY: Advance towards 78.38 interim resistance continues and we expect the market to break out above here to allow for a recovery higher to 79.23.
– USDCHF: Reversal lower from .9439 and ahead of the trendline resistance hurdle of .9454 keeps the broader bias skewed lower. Through .9335 exposes the .9238 low.
– AUDUSD: Decline continues lower and after the removal of 1.0321 support the focus is now on 1.0262 78.6% retracement support. Below here exposes the range low of 1.0167.
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: Buy at 1.6105, targeting 1.6240, stop at 1.6055.
– USDCHF: Sell at .9370 targeting .9240, stop at .9440.
– AUDUSD: Stopped out at 1.0320. Buy at 1.0280, targeting 1.0520, stop at 1.0165.
– NZDUSD: Long from .8306, targeting .8448, stop at .8239.
– USDCAD: Buy again at .9734, targeting .9840, stop at .9715.
Click here to read the full report: FX Daily
Credit Suisse