Danske Research Team
Danske Bank A/S
Interested in more FX key technical levels? Take a look at Swissquote's daily technical outlook.
EUR/USD Daily
Edged off the 1.0912 low but the downside still vulnerable and see risk for break after some consolidation. Upside seen limited with resistance now at 1.0957 and the 1.1000 level. Below the 1.0900 level will see further decline to 1.0886 and 1.0840 then the 1.0800 level. [PL]
EUR/CHF Daily
Rejection from the 1.0950 resistance and break of the 1.0900 level see pressure returning to the downside. Below the 1.0865 support will see resumption of the drop from the 1.1200, Feb high. Lower will see scope to 1.0827 then the 1.0800 level. Only above the 1.0950 resistance will fade downside pressure. [PL]
USD/CHF Daily
No follow-through on the break below the .9900 level and rebound keep ranging action in play above the .9853 support. Rally to clear the parity level will resume the up-leg from the .9661 low. Support starts at .9905 then the .9871 and .9853 lows, seen protecting the downside. [PL]
GBP/USD Daily
Strong reversal from last Friday's high of 1.4043 is keeping this currency pair on a suppressive tone during intraday trading and breach of 1.3844 support is opening downside to 1.3800 then lower 1.3700. [W.T]
USD/JPY Daily
Recovery checked at the 114.00 level following strong recovery from the 111.04 low. Lift over the 114.00 level will clear the way for retest of 114.51 then strong resistance at 114.87 high. Dips see support now at the 113.40/22 area then the 112.56 low. [PL]
EUR/GBP Daily
Setback from the .7929 high signals a small top pattern though the .7845 support keeping pullback in check. See break needed to swing focus lower to the .7776 and .7708 support. Above .7929 will see further strength to the .8000 level then .8050, the 10-mth base measuring objective. [PL]
This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector.
This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange.
Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.
Recommended Content
Editors’ Picks
EUR/USD holds below 1.0750 ahead of key US data
EUR/USD trades in a tight range below 1.0750 in the European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
GBP/USD consolidates above 1.2500, eyes on US PCE data
GBP/USD fluctuates at around 1.2500 in the European session on Friday following the three-day rebound. The PCE inflation data for March will be watched closely by market participants later in the day.
Gold clings to modest daily gains at around $2,350
Gold stays in positive territory at around $2,350 after closing in positive territory on Thursday. The benchmark 10-year US Treasury bond yield edges lower ahead of US PCE Price Index data, allowing XAU/USD to stretch higher.
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.