Today’s highlights:
GBPUSD has broken to a new high for the year and we target trend resistance at 1.6875 next, then the 1.7044 peak of 2009.
EURGBP below .8229 should see a retest of key support at .8165/55.
USDJPY strength has been capped at 102.29/39, and only above here would set a small base.
NZDUSD remains under pressure, but only below support at .8514 would set a bigger top.
We continue to look for AUDUSD to form a top following the move to our .9410/.9510 target.
USDCAD’s break above 1.1011/19 eases immediate downside
pressure, but above 1.1071/79 is needed for a better base.
EURUSD still threatens a potential large bear “wedge”.
Read the full report: FX Daily
Credit Suisse