Today’s highlights:
* EUR/GBP: The spotlight remains on the .7950/64 barrier.
* EUR/JPY: The deadlock continues, but while trend support at 97.30 holds, the recovery risks remain to 100.00/01 ahead of 100.72 where we would expect selling.
* EUR/SEK: The bullish reversal ahead of the 8.1736 lows sees a new range established, but the medium-term trend is still seen lower.
* EUR/NOK: The reversal at the 7.2504 lows sees a new near-term range form, but we look for trend resistance at 7.3800 to ideally cap, tokeep the medium-term downtrend in place.
* NOKSEK: The recovery in the range continues to hold sway and risks are seen for a test of the range high at 1.1406/15, which we would look to cap and see a fresh turn lower from here.
* AUDNZD: Better support has been found at 1.2810/04. Above 1.2942 though is needed to turn the bias higher again in the range of 1.3088.
Today’s trades/positions:
* EUR/GBP: Short at .7930, stop/reverse at .7969 for .7815.
* EUR/JPY: Long, stop below 97.70 for 100.00.
* EUR/SEK: Flat, sell at 8.3570, stop/reverse at 8.3850 for 8.1740.
* EUR/NOK: Short at 7.4316/29, stop at 7.4860 for 7.2200.
* NOK/SEK: Short at 1.1381, stop at 1.1455, targets 1.1090.
* AUD/NZD: Flat; buy at 1.2860, stop at 1.2802 for 1.3000.
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Credit Suisse