Today’s highlights:
– EUR/GBP: Our bias stays higher through neckline resistance at .8050 to test the .8096 barrier next. We expect major resistance at .8126/57 to provide a ceiling.
– EUR/JPY: The push up through 100.72 keeps us targeting the 101.65/79 barrier, which we look to provide a ceiling.
– EUR/SEK: Only through the 38.2% retracement barrier at 8.5553 would allow a test of 8.6493/6743.
– EUR/NOK: Selling has been found at the 7.4568 50% retracement barrier, but only below 7.3837 would ease risks for a push higher to 7.4976/5058.
– NOK/SEK: Buying has emerged just ahead of more important support at 1.1399/92, which turns the focus back on price resistance at 1.1577/93.
– AUD/NZD: The break below 1.2736 sees the spotlight turn to more important support at 1.2674/40. Surrender here would look to the April 1.2520 low.
Today’s trades/positions:
– EUR/GBP: Reversed long at .7969, stop below .7925 for .8090.
– EUR/JPY: Covered an existing long at 100.00. Sell at 101.40, stop at 101.90 for 99.60.
– EUR/SEK: Covered a long at 8.5200. Sell at 8.5553, stop at 8.6075 for 8.3150.
– EUR/NOK: Short at 7.4316/29, stop at 7.4860 for 7.2200
– NOK/SEK: Flat, sell at 1.1567, stop at 1.1597 for 1.1355.
– AUD/NZD: Flat, buy at 1.2645, stop/reverse at 1.2615 for 1.2800.
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Credit Suisse