Today’s highlights:
AUDUSD’s collapse has extended to retest the .8658 low for the year. Beneath here can target .8546 – 50% of the 2008/2011 uptrend.
USDCAD stays bullish for 1.1225/35, then the 1.1280 high for the year.
NZDUSD is expected to hold the .7693/83 2013 lows at first.
USDJPY stays bullish for our 110.60/111.60 target – the 50% retracement of the entire 1998/2011 bear market.
EURUSD’s removal of the 1.2662 low keeps the immediate risk lower for the 78.6% retracement of the 2012/2014 bull trend at 1.2460.
USDCHF has rallied to 78.6% retracement and trend channel resistance at .9597/.9623, which we look to try and cap initially.
EURGBP spotlight turns to key support at the six-year range low at .7755, below which would set a much larger top for .7258/35.
GBPUSD focus stays on more important support at 1.6162.
Read the full report: FX Daily