Today’s highlights:
USDCHF above the key .9038 high should reinforce the base and target the 38.2% retracement of the 2013/2014 fall at .9135.
EURUSD continues to hold a bearish “wedge” and a “head & shoulders” top for 1.3374 initially, then 1.3248.
GBPUSD’s removal of 1.7001 keeps the correction in force for more important support at 1.6952/45.
EURGBP extends its correction, but we expect price/trendline resistance at .7982/85 to cap to keep the trend lower to .7800.
NZDUSD is expected to hold .8553/36 near term.
AUDUSD above support at .9380 keeps the immediate risk higher.
USDCAD remains capped by downtrend resistance at 1.0752/54.
USDJPY needs to hold below 101.88 to keep the immediate risk lower.
EURJPY ideally stays capped at 137.38/48.
Read the full report: FX Daily