Today’s highlights:
EURUSD has achieved our 1.3248/28 initial target. Although this should be allowed to hold at first, we stay bearish for 1.3020/15.
USDJPY spotlight turns to the 104.13 April high, above which would retarget the 105.48/60 highs.
GBPUSD reinforces a top and we stay bearish for 1.6523/10 next, and eventually down to 1.6283/52.
NZDUSD’s extension below key support at .8402/.8395 confirms a more important top, and we target .8125/20.
AUDUSD is retesting key support at .9240/02, an eventual break below which is expected to confirm a large top.
USDCAD is expected to extend through 1.0992 to test 1.1027/54 next and eventually the 1.1280 high.
Read the full report: FX Daily