Today’s highlights:
EURUSD appears to be forming a bull “wedge”, and we look for a recovery back to 1.2560/1.2600.
USDCHF threatens a bear “wedge”, and a decline to .9598/95.
GBPUSD downtrend is beginning to look exhausted, but above trendline resistance at 1.5756/65 is needed to establish a small base.
USDCAD trend stays higher to test 1.1609/25.
USDJPY’s spotlight turns towards key price support at 117.24.
EURJPY’s immediate risk stays lower for 146.42 at first, ahead of the late November low at 145.59.
NZDUSD has recovered strongly, but only above .7924/28 would warn of a base.
AUDUSD is seen at risk to a corrective recovery to .8417/45, which we look to then ideally cap.
Read the full report: FX Daily