Today’s highlights:
• USDJPY’s collapse warns of further weakness to the 38.2% retracement of the rally from September at 93.57. We look for a floor here.
• EURJPY stays at risk to a deeper setback to 124.95/44.
• GBPUSD’s explosive rally above 1.5606/08 hints at a more sustained recovery. 200-day average and 61.8% retracement resistance is seen at 1.5708/88.
• EURUSD surge higher turns the spotlight on 1.3319/42 – the 61.8% retracement of the February/April decline and late February high.
• USDCHF is seen at risk to a test of .9206, which we look to hold.
• NZDUSD has held our targets at .7923/14, but while beneath .8163/64 we stay bearish for .78089 next.
• AUDUSD has seen a wild session, but while below .9674 the immediate risk is still seen lower to .9407/.9388.
Read the full report: FX Daily
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