Apologies for the late update on this report. I’ll be quicker on this week’s release. CS questioning whether the US$ ‘golden goose’ has been killed but coming down on the US$s side.
They haven’t been proved wrong by price as yet but some of their calls are be questioned here.
“We expect the euro to top out ahead of the key 1.40 level, but to fall toward 1.30 in the next big move; cable is likely to
be in the process of peaking, before retracing back toward 1.50; and the AUD is
likely to be capped at the key technical level in the 97s, with the “Aussie” likely
to be much weaker in 12 months’ time.”
We remain at a key area on the chart for many pairs. Volatility has reduced as participants are awaiting clear signals for new medium term trends.
All the best
Rich