Today’s highlights:
USDJPY above its 55-day average at 102.55/69 keeps the bias higher in the range to 103.64/76.
EURJPY needs to break above 141.89/99 to see a fresh base.
AUDUSD looks a little overstretched near term, but we stay bullish for our .9410/.9510 basing target.
NZDUSD looks at risk to a correction lower, ahead of a challenge on the .8845 high of 2011.
USDCAD remains under pressure to test trend support at 1.0968/54.
EURGBP stays bearish for a retest of key support at .8165/55.
GBPUSD needs to break above 1.6667 to turn the trend higher again to test 1.6743/47, then the 1.6824 peak.
EURUSD has found support at 1.3712/04, but we see the broader risk turning lower, with a potential large bear “wedge” forming.
Read the full report: FX Daily
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