FXMarketAlerts Team
FXMarketAlerts
USD buying resumes with a vengeance, and we see USD/JPY leading the way as we push through 120.00 again, though as yet, the 120.36 high from Tuesday is untouched. EUR/USD is heading towards 1.0700 again, but we met with strong buying from 1.0710 yesterday, so this is the near term target for specs here. Cable has dropped back sharply also, catching buyers on the UK manufacturing PMI's off guard to add to the downside momentum and we are in danger of triggering more stops through 1.4750. AUD/USD is back under .7600, and as noted over the last few days, .7550 is the initial target, with options players bidding in size ahead of .7500. NZD/USD has seen a sharp through the .7400's already and is now through the figure level. USD/Cad reclaims a 1.2700 handle.
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