Today’s highlights:
USDCAD above 1.1386 keeps the trend bullish for 1.1506 next, then channel resistance at 1.1582, with our core target still at 1.1666/1766.
USDJPY has moved to just shy of the 114.65 December 2007 peak. This should be allowed to cap at first, ahead of a move to 120.00/10.
EURJPY has rallied to price resistance at 143.51/82, which is seen as the barrier to a move back to the 145.69 high.
EURUSD continues to hold support at 1.2460, but we stay bearish for 1.2387/83 initially, ahead of the medium-term channel at 1.2220.
USDCHF trend stays higher to eventually break above .9692 to test the July 20132 .9752 peak.
AUDUSD has bounced but while capped below .8763/79, the immediate risk can remain lower.
NZDUSD below .7693/83 remains needed to complete a major top.
Read the full report: FX Daily