Today’s highlights:
– EURUSD: Focus is still on the 1.2880/76/73 throwback/50% retracement/200-day MA support cluster. Ideally this continues to hold, but below warns of risk to 1.2662.
– USDJPY: Support found at 94.08 and the resulting recovery effort higher puts the immediate focus back on the 96.71 resistance high. Above here exposes our target of 100.00.
– AUDUSD: Still probing the 1.0416 61.8% Fibonacci retracement hurdle. The bias for now remains higher, and a break above 1.0416 would see continued strength to 1.0498.
– NZDUSD: Back threatening initial resistance at .8295. The risk is growing for a break higher and extension up to more critical neckline resistance at .8350. Above here targets .8418.
Today’s trades/positions:
– EURUSD: Long again at 1.2931, target 1.3300, stop 1.2855.
– USDJPY: Long from 94.75, add at 93.10, targeting 99.50, stop now at 92.10.
– GBPUSD: Long from 1.4901 targeting 1.5220, stop now 1.5050.
– USDCHF: Long from .9432, for .9750, stop at .9288.
– AUDUSD: Long through 1.0377, add at 1.0285, for 1.0495, stop now 1.0255.
– NZDUSD: Short at .8225 target/reverse now at .8225, stop/reverse through .8300.
– USDCAD: Short again at 1.0285, target/reverse 1.0190, stop/reverse now 1.0255 (for 1.0400).
Click here to read the full report: FX Daily
Credit Suisse