Today’s highlights:
– EUR/GBP: Downside risks remain for a turn lower to the .7923/12 support.
– EUR/JPY: The bearish extension below former trend support now at 102.40 reinforces a top for 100.16/99.36.
– EUR/SEK: The break below 8.5099 reinforces a top for 8.4164.
– EUR/NOK: The extension of weakness below 7.3144/3039 turns the spotlight on the range lows at 7.2592/2504.
– NOKSEK: The risks remain lower in the range. Below 1.1635/24 would aim at the range lows at 1.1570/53.
– AUDNZD: We remain bullish for a rally up to 1.2803/14 next.
Today’s trades/positions:
– EUR/GBP: Sell at .8008, stop above .8033 for .7925.
– EUR/JPY: Flat, sell at 102.40, stop above 103.44, for 101.00.
– EUR/SEK: Covered an existing short at 8.5170. Sell again at 8.5546, stop at 8.5855 for 8.4170.
– EUR/NOK: Flat, sell at 7.3375, stop at 7.3680 for 7.2595.
– NOK/SEK: Target met and reversed short from 1.1684, target 1.1580, stop at 1.1761.
– AUD/NZD: Flat, buy at 1.2700, stop below 1.2645 for 1.2810.
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Credit Suisse