Today’s highlights:
– EUR/GBP: In corrective mode but expected to be short-lived, and supported by .8098/90. We remain buyers on dips for through .8166 to .8221 and then .8263.
– EUR/JPY: Failure at 104.62, ahead of the 105.43 61.8% Fibonacci retracement hurdle sets up for a correction lower, however this is expect to be limited to 102.83/71.
– EUR/SEK: Rebound persists higher for 8.6952 range high. Above here would allow for an extension higher towards 8.7901 retracement resistance.
– EUR/NOK: Aggressive continuation higher to initial target resistance at 7.445. We look for a continuation through here to 7.4647, and then back to 7.5002/47.
– NOK/SEK: Removal of 1.1599 support allows for risk lower to 1.1544 target retracement support. Overshoot risk exists below here to 1.1498 trendline support.
Today’s trades/positions:
– EUR/GBP: Long from .8030, targeting .8250, stop now at .8090.
– EUR/JPY: Long from 103.51 targeting 105.35, stop at 102.60.
– EUR/SEK: Long through 8.6000 targeting 8.6900, stop at 8.5470.
– EUR/NOK: Long through 7.4000 for 7.4600, stop now at 7.4000.
– NOK/SEK: Short from 1.1720 target now at 1.1545, stop now at 1.1695.
– AUD/NZD: Short from 1.2660, targeting 1.2505, stop at 1.2701.
Click here to read the full report: FX Daily
Credit Suisse