Today’s highlights:
– EURUSD: Range bound between the 1.2803/44 resistance zone and support at 1.2662. We continue to look for 1.2844 retracement resistance to cap, with risk to 1.2502.
– GBPUSD: Market completes a base through 1.5917 resistance. We target the 1.6044/21 resistance zone. Above here is required for a more sustainable advance back to 1.6310/20.
– NZDUSD: Bullish outside reversal day, after prodding below the 200 DMA, results in a bullish trendline break. We expect a rebound back towards .8208, which should then cap.
Today’s trades/positions:
– EURUSD: Sell at 1.2800, add at 1.2830, stop at 1.2877, targeting 1.2530.
– USDJPY: Short from 81.25, targeting 80.56, stop at 81.65.
– GBPUSD: Long from 1.5840, add at 1.5801, stop at 1.5760, targeting 1.5999.
– USDCHF: Long from .9432, targeting .9610, stop now .9359.
– AUDUSD: Short from 1.0315, add at 1.0420, targeting 1.0170, stop at 1.0465.
– NZDUSD: Short from .8110, add at .8155, targeting .8012, stop at .8210.
– USDCAD: Sell through .9992, initial target .9947, then .9905, stop at 1.0058.
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Credit Suisse