Today’s highlights:
GBP/USD: Solid recovery highlights respect for critical trend/neckline support factors below at 1.6177/1.6102. We still look for these to hold through mid-June
USD/CHF: Mini-base dismissed by bearish “outside” pattern. Whilst below .8548 risk is for bear extension through .8326 to .8125
NZD/USD: Reluctant to test .8072, thereby rejecting even a modest top. The threat this week remains for new secular highs to aim at our June target at .8395
USD/CAD: Sideways activity spotlights trend support now .9725. We look for this to hold for a June move through .9862, but violation quickly targets .9655/40 chart foundations
Today’s trades:
EUR/USD: Long from 1.4327 for 1.4547; stop/reverse 1.4285
USD/JPY: Long at 79.80 for 81.75; stop/reverse 79.49
GBP/USD: Flat. Would wait to buy at 1.6155 for 1.6590; exit/reverse below 1.6100
USD/CHF: Short at .8440 for .8250; exit .8566
AUD/USD: Long at 1.0572 for 1.0880; exit below 1.0440
NZD/USD: Long at .8156 for .8390; exit .8058
USD/CAD: Long from .9712 for .9950; exit .9624
Credit Suisse
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