Today’s highlights:
EURUSD’s bounce remains seen as corrective ahead of a resumption of the ongoing medium-term downtrend to 1.2460 next.
EURGBP has held the key six year range low at .7755 and we allow for a corrective move back up to “neckline” resistance at .7994/99.
GBPUSD’s removal of the 1.6162 support turns attention back to the 1.6052 September low.
USDCAD’s sharp fall has held a cluster of supports at 1.1070/51, and we stay directly bullish while above here.
AUDUSD ideally stays capped below the price and falling 13-day average at .8833/38.
NZDUSD’s corrective bounce ideally remains capped below .7958/65.
USDJPY needs to break above 109.57/62 to reassert the uptrend for our 110.60/111.60 target.
Read the full report: FX Daily