Today’s highlights:
– AUDUSD continues to look heavy, with the break beneath 1.0269 clearing the way for a move down to 1.0203, then the multi-month range lows at 1.0104/00.
– NZDUSD is expected to break beneath .8378/51 to open up a test of the channel lows at .8218/10.
– USDJPY’s break above 98.71 turns the spotlight back on key shortterm resistance at 99.95/100.00.
– GBPUSD’s sharp reversal ahead of the 1.5423 38.2% retracement barrier leaves us still bearish and looking for a break below 1.5034/27 for 1.4863/32.
– USDCHF is forming an intraday bullish “reverse head & shoulders” base, with the break above .9341/42 clearing the way for .9435.
– EURUSD maintains a momentum top which keeps the risks lower in the range to 1.2929/19 next.
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