Today’s highlights:
NZDUSD remains poised for a test of key price support at .8432, below which should trigger a decline towards .8416.
GBPUSD has found a near-term cap at 1.6778/81 – price resistance and the 38.2% retracement of the recent decline in late May.
EURUSD remains bearish for a test of 1.3587/86, followed by the 38.2% retracement support at 1.3520 next.
USDJPY completes a base, leaving the immediate risk on the topside.
EURGBP stays bearish for a retest of .8081/61, then .7982/61.
EURJPY’s recent strength is still viewed as corrective while still capped below 139.46.
AUDUSD is under pressure for a retest of pivotal support at .9211/02.
USDCAD has formed a small base, keeping the immediate risk marginally higher.
Read the full report: FX Daily
Credit Suisse