Today’s highlights:
– EURGBP has broken above key downtrend and 55-day average resistance, suggesting a more bullish change of trend is underway.
– GBPUSD suffers a sharp sell-off for a break below 61.8% retracement support at 1.5128. We target 1.5056 next, then back to the 1.4832 low.
– NZDUSD has seen its expected bounce from our .8067/52 initial target, but with strength seen as corrective ahead of a break lower in due course.
– AUDUSD has also seen its expected near-term rebound, but with our core outlook bearish for .9585/75.
– EURJPY above 131.00 can see the immediate risk stay higher for a break above 132.80, to target trend resistance at 133.58.
– USDCHF is consolidating following the decline to our .9770 target, but our broader outlook stays bullish.
– EURUSD strength will ideally stay capped by 1.2967.
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