Today’s highlights:
EUR/USD: Faltering ahead of 1.4552/64 barrier negates mini-base with plunge to a new setback low. Risk now to firmer support at 1.4125.
USD/JPY: Mini-base and short-term bull trend reversal secured to aim at 81.78 this week with latter June threat up to the 82.24 peak and 200-DMA, now 82.40.
GBP/USD: Violation of 1.6185 trendline support focus immediate focus on key neckline support placed at 1.6110. Market needs to hold here for a recovery to unfold.
AUD/USD: Bearish outside reversal day puts pressure back on 1.0521 support. Risk is for some overshoot downside to 1.0443/1.0390 support, but we expect this level to hold
Today’s trades:
EUR/USD: Reversed to short through 1.4285 for 1.4131; add back to 1.4330; exit above 1.4436.
USD/JPY: Long at 79.80 for 81.75; stop/reverse 79.49.
GBP/USD: Flat, wait to buy at 1.6155 for 1.6590; exit/reverse below 1.6055.
USD/CHF: Stopped out and reversed long through .8552, targeting .8750, stop placed at 8430.
AUD/USD: Long at 1.0572 for 1.0880; exit below 1.0440
NZD/USD: Flat. Stopped out at .8058.
USD/CAD: Target met and reversed short at .9794; stop placed at .9872, targeting .9660.
Credit Suisse
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