Today’s highlights:
AUDUSD has declined to our .8675 next core target – 38.2% of the entire 2001/2011 bull market – which we look to try and hold at first.
USDCAD is closing in on our first objective at 1.1234. We look for an initial cap here, but bigger picture we maintain higher targets at 1.1666/1766.
EURGBP has achieved, and as expected, bounced from our core target at .8165/55. Bigger picture, however, we stay bearish for .7800.
GBPUSD stays on course for the target from its base at 1.6691.
USDJPY bearish “outside” reversal sees topping risks mount.
EURUSD sees an explosive move higher, easing topping risks.
Read the full report: FX Daily
Credit Suisse