Today’s highlights:
• NZDUSD has broken lower to our initial support target at .7923/14. We expect this to hold at first, but stay bearish for an eventual break lower to .7808 then .7655.
• AUDUSD is still vulnerable to a bounce but we look for .9843/55 to continue to cap to keep the medium-term risks lower to .9407/9388.
• EURUSD has been capped at trendline and 61.8% retracement resistance at 1.3072/78 leaving the risks still lower in the range.
• GBPUSD has found selling on the test of the 1.5236 retracement barrier and we view recent strength as corrective ahead of a turn lower to test the 1.4832 low.
• USDCHF has bounced from support at .9501, but up through .9652/62 is needed for a base to test .9792.
• USDJPY’s correction extends for support next at 99.95/73.
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