Today’s highlights:
– EUR/GBP: .8097 support continues to hold firm. The immediate bias remains higher whilst above here for a test of the .8166/7 key neckline hurdle. Above here exposes .8263.
– EUR/JPY: Decisive breakout through 111.19/45 key resistance, allows for an eventual extension up to 116.62 50% retracement resistance.
– EUR/SEK: Correcting lower from the 8.7901/45 resistance zone. Scope for a dip back towards 8.6735 throwback support, before further upside towards 8.9576.
– EUR/NOK: Resistance at 7.4092 continues to cap the market. Whilst capped by this resistance hurdle, we see risk lower through 7.3510 to interim chart support at 7.3153.
– NOKSEK: Back threatening a break below 1.1728 trendline support. We expect this to occur, and for the market to revert lower, back to interim support located at 1.1553.
Today’s trades/positions:
– EUR/GBP: Long through .8075, targeting .8250, stop now at .8090.
– EUR/JPY: Buy at 108.15, targeting 114.50, stop at 105.80.
– EUR/SEK: Buy at 8.6945 targeting 8.8350, stop at 8.6350.
– EUR/NOK: Short from 7.3800, targeting 7.2920, stop at 7.4100.
– NOK/SEK: Short from 1.1845, targeting 1.1575, stop at 1.2063.
– AUD/NZD: Re-sell at 1.2580, for 1.2410, stop at 1.2655.
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Credit Suisse