Today’s highlights:
EURUSD is threatening a bearish “pennant” continuation pattern, with a break below 1.3333 needed to confirm, for our 1.3248 next target.
NZDUSD remains under pressure, and we continue to look for a retest of key support at .8402/.8395. Only below here sees a top though.
GBPUSD continues to hold key support from its rising 200-day average at 1.6675, with a break here needed to complete a top.
EURGBP continues to hold below .8036 for now, but our bias remains for a move to .8074/75 – 38.2% of the March/July fall.
USDCHF weakness is seen as corrective ahead of a move to .9135.
AUDUSD is seen at risk to a deeper recovery to .9365/75, but with fresh sellers expected here.
USDCAD weakness ideally holds 1.0845, for a move to 1.1027/54.
USDJPY holds a slight upside bias in its sideways range.
Read the full report: FX Daily