Today’s highlights:
– EURUSD: Whilst capped by 1.3711/27 resistance the risk remains lower to 1.3310, and potentially then 1.3180.
– USDJPY: Right up against the long-term 38.2% retracement resistance hurdle of 94.13. We also flag chart resistance at 95.00. We expect this 94.13/95.00 zone to cap.
– GBPUSD: Probing long-term trendline support at 1.5622 after yesterday’s aggressive sell-off. We expect the market to hold and rebound from this long-term trendline.
– AUDUSD: Probing the key support level of 1.0429. A break below here completes a major top and allows for the expected decline lower to 1.0149 long-term range support.
Today’s trades/positions:
– EURUSD: Sell at 1.3525, now add at 1.3610, targeting 1.3312, stop now at 1.3730.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Long at 1.5843, added at 1.5740, targeting 1.6350, stop widened to 1.5600.
– USDCHF: Buy at .9010, targeting .9350, stop at .8850.
– AUDUSD: Short from 1.0456, targeting 1.0180, stop now at 1.0459.
– NZDUSD: Short through .8447, targeting .8230, stop at .8505.
– USDCAD: Long at .9975, targeting 1.0135, stop at .9900.
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Credit Suisse