Today’s highlights:
DXY $ Index above 81.38/48 sees a base established, for 83.40/48.
USDJPY above 103.03 suggests a base is in place, for 104.13.
USDCAD’s break above 1.0871/90 establishes a better base, targeting 1.0949/62 next.
AUDUSD has completed a top and we stay bearish for weakness towards .9232/02.
NZDUSD has found an initial floor near the 200-day average and 50% retracement of the February/July rally at .8454/43.
USDCHF’s extension above trendline resistance at .9075 turns attention next to the 38.2% retracement barrier at .9135.
EURUSD is testing the 50% retracement support at 1.3374; we allow for an initial hold here, but stay bearish for a move to 1.3248.
GBPUSD’s break of support at 1.6923 warns of a deeper correction.
Read the full report: FX Daily