Today’s highlights:
EUR/USD: Another recovery failure ahead of 1.4454 reinforces defensive range theme, with end of week risk through 1.4055/15 support levels to the 200-day MA, 1.3945
USD/JPY: Poised at the historical 76.30/25 lows, now with likely break below aiming at 74.80 initially with risk to 72.55
GBP/USD: More forcefully through 1.6224/11 chart/retrace support aims down to 1.6006 near term, with August threat growing to key 1.5785/81 low
AUD/USD: Recovery activity unconvincing whilst below 1.0505/25, leaving August risk back though parity and key .9933 support down to the 2011 low, .9705
USD/CAD: Solid bounce from initial recovery support at .9781/67 to retest already probed .9975/89 area. August threat remains higher to retrace/chart barriers at 1.0130/0210
Today’s trades:
EUR/USD: Short from 1.4367 for 1.4015; exit/reverse 1.4455
USD/JPY: Long at 76.82 for 78.45; exit/reverse 76.19
GBP/USD: Short through 1.6210 for 1.6006; exit 1.6342
USD/CHF: Retry short back to .7445 for .6910; exit/reverse .7595
AUD/USD: Flat, try a short at 1.0495 for 1.0260; exit 1.0536
NZD/USD: Flat, try a short at .8379 for .8090, exit .8472
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http://www.easyforexnews.net/wp-content/uploads/2011/08/document-804309540.pdf
Credit Suisse
FIXED INCOME RESEARCH & ANALYTICS