Today’s highlights:
GBPUSD has confirmed a large top below 1.6677, and we stay bearish for 1.6523, and eventually 1.6283/52.
NZDUSD also finally confirms its expected top below .8402/.8395, targeting .8259, then .8125/20.
EURUSD below 1.3333 confirms a bear “pennant”, and keeps the immediate trend lower to our 1.3248 target.
USDJPY above 103.03/12 resolves the range higher and we stay bullish for 104.13, then back to the 105.48/60 highs.
USDCHF risk stays higher for trendline and 38.2% retracement resistance at .9135/45.
AUDUSD recovery remains capped below .9368/75, maintaining thoughts of a larger topping process.
USDCAD risk is seen higher for a test of 1.1027/54.
Read the full report: FX Daily