Today’s highlights:
– EURUSD: Probing the key range resistance zone at 1.3398/1.3404 after the rebound higher from 1.3264. We highlight however that a clear break above 1.3404 is needed for 1.3487/93.
– USDJPY: Removal of 90.25 resistance now exposes the more critical long term 78.6% Fibonacci retracement hurdle.
– AUDUSD: Decisive breakdown through 1.0485 prior range support completes the expected top and allows for a decline back to our target support zone at 1.0400/1.0394.
– GBPUSD: Decline through prior range lows sees the broader downtrend continue lower towards our target 61.8% retracement support at 1.5692.
Today’s trades/positions:
– EURUSD: Stopped out and reversed long through 1.3375, stop/reverse now 1.3348, target at 1.3485.
– USDJPY: Short at 89.80, targeting 86.20, stop at 91.00.
– GBPUSD: Sell at 1.5802, targeting 1.5695, stop/reverse through 1.5860.
– USDCHF: Long from .9290, targeting .9610, stop at .9197.
– AUDUSD: Short at 1.0540, target now 1.0412, stop now at 1.0540.
– NZDUSD: Short at .8415, targeting .8235, stop at .8480.
– USDCAD: Buy 50% at .9976, and 50% at .9947, targeting 1.0262, stop at .9840.
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Credit Suisse