Danske Research Team
Danske Bank A/S
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EUR/USD Daily
Still slipping following break of the 1.0900 level though stretched intraday tools suggest the 1.0800 level should hold firm for now. Higher low sought for rebound later with resistance now at 1.0905 and 1.0981. Above the latter will return focus to the 1.1060 high. [P.L]
USD/CHF Daily
Strength to break the .9958 resistance clears the way to the parity level then 1.0034 resistance to retrace the drop from the 1.0328 high. Would need lift over the 1.1000/34 area to revive upside focus and see further strength to the 1.0100 level. Support now at .9865 then the .9786 low. [PL]
USD/JPY Daily
Recovery to regain the 122.23/30 recent range lows revive upside focus and nearby see resistance now at 122.72 and 123.20. Beyond this will see scope to retest the 123.67/76 highs though this likely out of reach for now. Support now at the 200-day MA at 121.61 then 121.18. [PL]
EUR/CHF Daily
Inability to hold the 1.0800 level keep pressure on the downside to reach 1.0761 low. Below this will expose the 1.0737/13 lows to retest. Break of the latter will trigger a top pattern at the 1.1050 high and see deeper pullback. Resistance now at 1.0845 and 1.0877. [PL]
GBP/USD Daily
Intraday trade exposed further crack below 1.4957 support, exposing stronger level behind at 1.4895 and expect the latter to put up a strong fight to current weakness. Lift above intraday resistance at 1.5004 will help alleviate downside pressure. [W.T]
EUR/GBP Daily
Slightly exceeded the .7304 resistance but still struggling to sustain break of the .7300 level. Clearance needed to target .7374 then the .7400 level. Beyond this is the .7493, Oct high, but out of reach for now. Setback see support starting at .7215 then the higher lows at .7193 and .7164. Would take break to swing focus lower. [PL]
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