Today’s highlights:
– NZDUSD’s collapse below .8319 competes a top, and we look for further weakness to the December low and 200-day average at .8155/51.
– AUDUSD’s break below the range lows at 1.0226/21 keeps the bias lower to 1.0149.
– EURUSD is crucially poised above key support from the low for the year from early January at 1.2998.
– USDJPY remains under pressure to extend its setback to 90.66/33, with firmer levels seen at 88.03/87.88.
– USDCAD spotlight remains on the 78.6% Fibonacci retracement at 1.0273.
Today’s trades/positions:
– EURUSD: Long at 1.3070, stop/reverse below 1.2998, for 1.3300.
– USDJPY: Short from 93.90, stop at 95.10, target now 88.10.
– GBPUSD: Short at 1.5160/1.5200, stop above 1.5260. Target 1.4875.
– USDCHF: Long from .9150 covered at .9340. Sell at .9340, stop/reverse above .9391 for .9235.
– AUDUSD: Reversed short, stop 1.0343 for 1.0150.
– NZDUSD: Flat, sell at .8300/20, stop above .8355 for .8155. Reverse back to a long here, stop/reverse below .8123.
– USDCAD: Covered an existing long at 1.0046. Buy again at 1.0102, stop below 1.0043 for 1.0273.
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Credit Suisse