Today’s highlights:
– USDJPY: Initial failure at 83.09/82.99 resistance zone. Despite this we remain bullish and expect to see an eventual upside break and extension higher through 85.54 to 87.57.
– AUDUSD: Still probing the 1.0425. Risk is for a break through here to challenge the more significant 1.0437 topping trendline. But above 1.0482 needed to set a bullish tone.
– USDCAD: Still stuck within a range, but price defended channel support yesterday at .9950/47. A breakout above .9992/4 would risk a rally to 1.0058 then 1.0086.
Today’s trades/positions:
– EURUSD: Sell at 1.2905, or through 1.2855, targeting 1.2670, stop at 1.2960.
– USDJPY: Buy at 81.15, add at 80.68, targeting 84.10, stop at 80.00.
– GBPUSD: Long from 1.5840, stop now at 1.5926, targeting 1.5999.
– USDCHF: Sell at .9375 targeting .9280, stop at .9425.
– AUDUSD: Short from 1.0315, added at 1.0420, targeting 1.0170, stop at 1.0465.
– NZDUSD: Short from .8110, added at .8155, targeting .8012, stop at .8210. Sell again at .8242 if stopped out.
– USDCAD: Short from .9992, targeting .9905, stop/reverse now .9995 (1.0080).
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Credit Suisse