Credit Suisse FX Techs – Key levels to watch

DXY $ Index has declined sharply, breaking lower to form new cycle lows. This keeps the risk lower for 94.31 at first, ahead of 93.81 and then the August 2015 low at 92.62.

■ EURUSD spotlight turns to the 1.1376 February high. Above here can resolve the range higher for 1.1495 next.

■ USDJPY has extended its weakness, leaving the immediate focus on the September 2014 high and psychological support at 110.09/00.

■ GBPUSD’s breakout above 1.4412/37 sees a better base for 1.4636/69.

■ NZDUSD’s attention turns to key resistance from the multi-month range highs at .6875/98.

■ AUDUSD’s immediate risk remains topside for .7739, followed by our recovery target at .7832/50.

■ EURGBP has completed a bearish “outside” day.

Today’s trades/positions:

■ EURUSD: Long at 1.1140, stop below 1.1058 for 1.1370. Add again on a direct break above 1.1376 as this can target 1.1495.

■ USDJPY: Short at 115.20, stop above 117.54 for 110.10/00.

■ GBPUSD: Flat, buy at 1.4332/28, stop below 1.4221 for 1.4635.

■ USDCHF: Covered a short from .9870 at .9670. Sell again at .9749, stop above .9803 for .9555. Also sell on a direct break below .9634.

■ AUDUSD: Long at .7400, raise stop to below .7529. Take profit at .7730.

■ NZDUSD: Short at .6810/22, stop/reverse above .6900 for .6580.

■ USDCAD: Covered a short at 1.3040. Sell again at 1.3165, stop above 1.3328 for 1.2835.

■ EURJPY: Short at 126.50, stop above 127.37 for 124.05.

The post Credit Suisse FX Techs – Key levels to watch appeared first on www.forextell.com.

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