Today’s highlights:
– EURUSD: Break through 1.2974/2 resistance secures a base and allows the market to continue gains back towards range highs at 1.3127/40/72 eventually.
– GBPUSD: Back challenging the 1.6132 resistance hurdle again. The risk remains skewed higher and we flag that a breakout through 1.6132, and 1.6176/82 would target 1.6310
– AUDUSD: Breakout above 1.0521/3 occurs, allowing for a re-test of the high of 1.0625. Above here is needed to allow for an extension higher to 1.0857 long term resistance.
– NZDUSD: Prod above .8260 key medium-term resistance keeps the current upward trend intact, and the focus higher to .8471/3.
Today’s trades/positions:
– EURUSD: Long through 1.2930, add at 1.2865, targeting 1.3091 stop at 1.2840.
– USDJPY: Long from 81.75, add at 81.02, targeting 84.10, stop at 80.60.
– GBPUSD: Long through 1.6040 for 1.6225, stop now 1.6000.
– USDCHF: Long from .9280, target now .9400, stop now at .9280.
– AUDUSD: Stopped out and reversed long through 1.0524, add at 1.0452, for 1.0610, stop/reverse at 1.0388.
– NZDUSD: Long at .8311, targeting .8430, stop now .8290.
– USDCAD: Short from .9868, add at .9908, targeting .9798, stop at .9938.
Click here to read the full report: FX Daily
Credit Suisse