Today’s highlights:
EURUSD: Cautious intraday fatigued bounce, but only above 1.3665 eases bear risk (1.3730 needed for a neutral tone). Otherwise, the mid-month threat is to 1.3382/45
GBPUSD: Topping risk increasing with probe below 1.5891/77 risking a challenge of retrace support, 1.5825 and likely the pivot/retrace area at 1.5719/17
NZDUSD: Having hit our retrace/chart target at .7765/43, we now aim still lower at the .7635 level; overshoot risk is to the .7469 low
USDCAD: Once more stalling back from the 1.0265/75 resistance area underscores upside caution, closing to a defensive consolidation theme. Only below 1.0054 reinforces
Today’s trades:
EURUSD: Short through 1.3664 for 1.3406; exit 1.3666
USDJPY: Unwanted long from 77.76; reverse to short at 77.76 or through 77.44 for 76.56
GBPUSD: Clinging to a long from 1.5976 for 1.6035; exit/reverse here or through 1.5868
USDCHF: Still flat, try a long at .8936 for .9288; exit .8844
AUDUSD: Still short from 1.0410, now for .9926; reverse to long here (back to short below .9865) or to flat above 1.0251
NZDUSD: Re-entered short on break of .7742 for .7641; exit .7826
USDCAD: Still short at 1.0210 for .9974; exit 1.0276
Credit Suisse
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