Today’s highlights:
USD/JPY: Bullish “outside” Wednesday and follow-through gains this morning underscore a small basing to aim through 81.07 towards 82.24/28, chart/200-day MA hurdles
GBP/USD: Violation of the “Head & Shoulders” neckline warns of a more important top and points down through the 200-day MA, 1.6031 to the 1.5751/5645 area
NZD/USD: A probe at the back of the previously reversed trend line today eyes modest resistance at .8223. Through here aims at a new secular high (above .8303) to our .8395 June target
Today’s trades:
EUR/USD: Reversed short from 1.4430 back long at 1.4316 for 1.4495; exit/reverse 1.4274
USD/JPY: Long at 79.80 for 81.75; stop/reverse 79.49
GBP/USD: Long at 1.6155, for 1.6250; exit/reverse 1.5995
USD/CHF: Long re-entered at .8352 for .8540; stop/reverse .8325
AUD/USD: Long at 1.0572 for 1.0880; exit below 1.0440
NZD/USD: Look to buy at .8050 for .8220; exit/reverse through .7964
USD/CAD: Flat, enter short at .9805 for .9526; exit .9920
Credit Suisse
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