Today’s highlights:
EURUSD ideally remains capped by the falling 21-day average/trend resistance at 1.2454/64 to leave the immediate risk still lower.
USDJPY has achieved our long-held target at 120.00/10, but a sustained break can target the 124.16 high of 2007.
EURGBP defends trendline support at .7821 to maintain the converging range.
GBPUSD stays sideways, but we remain bearish for a break below 1.5590/85, to test 1.5429/22.
AUDUSD remains bearish and we look for a decline towards the July 2010 low at .8316, where we would look for an initial hold.
USDCAD stays bullish for an eventual break above 1.1468 to test 1.1575/78 next, then medium-term channel resistance at 1.1616.
USDCHF risk can stay directly higher while above the 21-day average at .9648.
Read the full report: FX Daily