Today’s highlights:
EUR/USD: Still better recovery tone after Monday’s pause keeps spotlight on 78.6% retracement/chart resistance at 1.4735/54 today; mid-month risk is to the cycle high, 1.4944
GBP/USD: Bullish “outside” Tuesday to complement the similar pattern Friday highlights positive skew to the near-term range. Whilst above 1.6310/08, the threat is up through 1.6549 to 1.6600
AUD/USD: Still within Friday’s range, but positive above the 55-DMA, 1.0595. We look for upside extension through 1.0795 to our chart/78.6% retracement objective, 1.0890/91
NZD/USD: Robust extension above the “outside” Friday peak after defending 13-day EMA/chart support. The risk this week is through the .8267 peak for a June test of .8395 target
Today’s trades:
EUR/USD: Long at 1.4570 for 1.4730; exit 1.4494
USD/JPY: Long again at 79.80 for 81.75 stop/reverse 79.49
GBP/USD: Long from 1.6316 for 1.6585; exit 1.6264
USD/CHF: Flat; sell rebound to .8440 for .8250; exit .8566
AUD/USD: Long at 1.0680 for 1.0885; exit 1.0579
NZD/USD: Long at .8156 for .8390; exit .8048
USD/CAD: Long from .9712 for .9950; exit .9624
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http://www.easyforexnews.net/wp-content/uploads/2011/06/document-890517251.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS