Today’s highlights:
EUR/USD: Setback from 50% retracement barrier (1.4456) only dents upside prospects, with risk into next week still to 1.4572
USD/JPY: Setback only prods minor 80.70 support; whilst above 80.34 our bias remains higher to the 200-DMA (82.60)
USD/CHF: Probe below our Fibonacci extension/return line support objective (.8415/8395) leaves risk still lower into June. .8250 in focus next, on the way to .8125
GBP/USD: Bearish “outside” Tuesday confirmed through recovery support. Only below pivot area, 1.6310/08, however, switches to a more overly negative tone again
Today’s trades:
EUR/USD: Average long at 1.4405; we would place the stop below 1.4307 for 1.4570
USD/JPY: Long entered at 81.08 for 84.00; exit 80.08
GBP/USD: Flat, would venture long again at 1.6316 for 1.6536; exit 1.6264
USD/CHF: Flat; sell rebound to .8540 for .8250; exit .8670
AUD/USD: Flat, re-enter long at 1.0550 for 1.0885; exit 1.0438
NZD/USD: Long re-entered at .8156 for .8390; exit .8048
USD/CAD: Long from .9712 for .9975; exit .9624
Credit Suisse
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