Today’s highlights:
– USDJPY: Gaining traction ahead of the 81.64 chart support level. Some overshoot still a possibility, however, we expect the market to eventually target 84.19.
– GBPUSD: Resistance found ahead of the key 1.6176/82 zone at 1.6132. We see the risks lower from here back to 1.5989/62 initially.
– USDCHF: Grind lower persists for now, with all eyes now on the .9212 low. We reiterate that whilst this support level remains intact, so does the .9514-.9212 range.
– AUDUSD: Back probing the 1.0492 hurdle. Above here sees a test of the more critical 1.0521/3 resistance zone. We look for this to cap the market, with risk then lower to 1.0288.
Today’s trades/positions:
– EURUSD: Target met and reversed short from 1.3093, stop now at 1.3175, with target at 1.2895.
– USDJPY: Long from 81.75, add at 81.02, targeting 84.10, stop at 80.60.
– GBPUSD: Sell through 1.6085, targeting 1.5885, stop at 1.6185.
– USDCHF: Long from .9280, add at .9235, targeting .9448, stop at .9210.
– AUDUSD: Short through 1.0426, targeting 1.0201, stop at 1.0525.
– NZDUSD: Short from .8195, add at .8274, targeting .8015, stop at .8311.
– USDCAD: Target met and reversed long from .9926, stop at .9865, targeting 1.0050.
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