The Risk Today
<p><span><span>EurUsd</span></span><span><span> USD bearish sentiment is near historic extremes. Although the euro is holding above its previous closeness <span>Â </span>area, later this month, we expect topping signs against the Dec peak 1.4720.</p><br><p><span>GbpUsd</span> The topping risks are increasing. A move below 1.6580 this level would likely trigger a deeper pullback.</p><br><p><span>UsdJpy</span> range is well defined between 94.30/95.90 and a recovery above 96.40 is needed to change this ranging outlook and for USD/JPY to squeeze higher still.</p><br><p><span>UsdChf</span> USDCHF remains neutral in the short term, though if the USD downtrend is to continue into next week, we prefer to see a close below 1.0590</span></span></p>
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