Today’s highlights:
– GBPUSD: Dramatic plunge through key medium term range support zone at 1.5233/68/74. This exposes the next major support level of 1.4856, however we look for some consolidation at first.
– EURUSD: Removal of 1.3310/07 and 1.3257/64 support clusters leave the key upward trendline support level of 1.3220 exposed. This needs to hold for the uptrend trend to remain intact.
– AUDUSD: Back challenging range support at 1.0226, after yesterday’s dramatic reversal lower from 1.0370/6 resistance.
– NZDUSD: Decline persists for now. The market is currently challenging key trendline support at .8329/7. We highlight more significant support at .8309/.8295, and a break below targets .8213/35.
Today’s trades/positions:
– EURUSD: Stopped out and reversed short through 1.3328 target/reverse now 1.3235, stop/reverse through 1.3293.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Sell at 1.5450 targeting 1.5000, stop/reverse through 1.5580 (for 1.60).
– USDCHF: Long from .9150 for .9380, stop/reverse now .9180 (for .9040).
– AUDUSD: Stopped out at 1.0272. Sell at 1.0280 targeting 1.0105, stop at 1.0371.
– NZDUSD: Target met and reversed short from .8410, target now .8236, stop at .8410.
– USDCAD: Long at 1.0046, targeting 1.0240, stop now 1.0100.
Click here to read the full report: FX Daily
Credit Suisse