Today’s highlights:
USDCAD’s break above 1.1468/77 keeps the immediate trend higher to 1.1598 next, ahead of medium-term channel resistance at 1.1625.
AUDUSD’s trend remains lower for .8195 initially, ahead of our core target from the 2010 low at .8066.
NZDUSD stays bearish for .7559, ahead of the May 2012 low at .7456.
EURUSD downtrend is losing momentum ahead of medium-term range support, starting at 1.2227, where we expect buyers to show.
GBPUSD is expected to remain capped below trendline resistance at 1.5790, leaving the trend immediately bearish to 1.5429/22.
USDCHF’s trend stays higher to test the .9841 peak.
USDJPY is under pressure, but we look for uptrend and 13-day average at 119.29/11 at to try and hold.
Read the full report: FX Daily