Today’s highlights:
• GBPUSD’s break beneath 1.5264/51 set a top for 1.5105, then 1.5051/24. Removal of the latter is needed to look again to key support at 1.4855/13.
• EURUSD rally is losing momentum, but only below 1.3166 sees a near-term top.
• AUDUSD spotlight stays on .9000/.8998. We look an eventual break beneath here to see the medium-term bear trend resume, for .8770.
• NZDUSD has extended its reversal, and we look for a break beneath .7906/7895 to set a top.
• USDJPY stages a tepid rebound from support at 97.66, which leaves downside risks intact within the broader “triangular” range. .
• USDCHF continues to hold support at .9263/42, but above .9327/28 is needed for a base, and through .9396/9410 to turn the trend higher.
Read the full report: FX Daily
Credit Suisse