Today’s highlights:
– USDJPY has achieved our 99.86/100.00 target – the 50% retracement of the 2007/2011 bear market. This should be allowed to cap at first, ahead of a move to 101.27/103.10.
– NZDUSD’s break above the .8536 2012 price peak keeps the immediate bias higher to channel resistance at .8623/42.
– AUDUSD’s extension through 1.0500 keeps the spotlight on the key 1.0585/1.0625 range highs where we look for a ceiling.
– EURUSD has found selling at 1.3115/35 – 38.2% of the Feb/April selloff and March highs.
– GBPUSD’s tight range continues to dominate, but with price support at 1.5199 intact the focus can stay marginally higher to 1.5410/23.
– USDCHF is expected to try to hold support at .9294/78, but above .9435/45 is needed to remove risks of a test of support at .9232/30.
Click here to read the full report: FX Daily
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