Today’s highlights:
• NZDUSD has fallen sharply overnight to test and again hold for now key support at .7687/83. An eventual break is expected in due course though, for .7458/56.
• AUDUSD has posted another new cycle low and we stay bearish for .8770, then .8674 – 38.2% of the 2001/2011 bull trend.
• GBPUSD has completed a large bullish “reversal day”, raising the prospect of further sideways ranging.
• EURUSD has rebounded strongly, but we continue to look for resistance at 1.3345/58 to cap.
• USDJPY has held below key downtrend resistance at 100.21. leaving an immediate downside bias in the broader range.
• EURJPY also holds below trend and price resistance at 132.56/75, keeping a downside bias here also.
Read the full report: FX Daily
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