Today’s highlights:
GBPUSD removes the top of the 2013 base at 1.5752/22 to warn of a more significant break lower, and further weakness to 1.5429/22.
EURGBP’s extension above .7913 establishes a better base.
USDJPY breaks to a new cycle high and we stay bullish for 117.95, and eventually our 120.00/10 core target.
EURJPY stays bullish for the 145.69 high of late 2013.
DXY $ Index stays on course for medium-term resistance at 88.71/89.92, where we expect better selling to show.
NZDUSD’s ideally holds below price/55-day average resistance at .7974/79 to keep the trend lower.
USDCAD above 1.1403 should see strength back to the 1.1468 high, then channel resistance at 1.1496/1.1500.
EURUSD holds in a low level range and capped below 1.2534/41, leaving the immediate risks still lower.
Read the full report: FX Daily