Today’s highlights:
· EURUSD: Friday erosion hints at a top, but close through the 13-day EMA, now 1.3125, needed to confirm. Otherwise, risks remain higher this week
· GBPUSD: Modest 13-day EMA support probed with setback from 50% retrace/200-day MA resistance, 1.5925/28. But only below 1.5690 signals a top, otherwise risk is higher
· AUDUSD: Prod at trend support (1.0685) with upside momentum fading, but only a close below here warns of a top/reversal to dampen risks to the 1.1083 secular high
· USDJPY: Weekly close above the trend line from 2007 keep the focus on key 200-day MA/price resistance at 78.06/31
Today’s trades:
· EURUSD: Flat, retry short at 1.3420 for 1.3080; exit 1.3460
· USDJPY: Flat, try short at 78.09 for 77.00, stop/reverse 78.35
· GBPUSD: Long at 1.5790 for 1.6080; exit 1.5690
· USDCHF: Long at .9130 for .9380; exit .9064
· AUDUSD: Long at 1.0675 for 1.1000; exit/reverse 1.0630
· NZDUSD: Long through .8256, now for .8510; exit .8250
· USDCAD: Short through 1.0049 for .9805; exit 1.0085
Click here to read the full report: FX Daily Majors
Credit Suisse
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