Today’s highlights:
– EURUSD: Failure at 1.3521 results in reversal lower, in turn keeping the corrective phase alive for now. Risk now back to 1.3329/10 once again, and below targets 1.3180.
– AUDUSD: Aggressive follow through higher yesterday results in the market now probing key 1.0370/3 resistance. Above here targets the 1.0459/58/79 resistance cluster.
– NZDUSD: Back challenging the high of .8494 again as the market rallies strongly. A break above .8494 then exposes the 78.6% retracement of .8530, and channel resistance at .8561.
– GBPUSD: Decisive break below the long-term upward trendline support at 1.5631 implies further downside through 1.5506 retracement support towards range lows at 1.5268/33.
Today’s trades/positions:
– EURUSD: Booked profit and reversed short from 1.3510, target now 1.3210, stop placed at 1.3582.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Flat. Stopped out at 1.5568. Sell at 1.5625, targeting 1.5423, stop at 1.5700.
– USDCHF: Long from .9150 for .9380, stop at .9050.
– AUDUSD: Long from 1.0325, add at 1.0295, target 1.0455, stop 1.0224.
– NZDUSD: Long through .8390 for .8500, stop now .8450.
– USDCAD: Booked profit and reversed short at 1.0015, target/reverse at .9948, stop/reverse at 1.0050.
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Credit Suisse