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
Consolidating below the 1.1303 high tracing out a small flag and see scope for break to trigger strength to retest the 1.1342 and 1.1376 highs. Beyond this will see bull extension to target the 1.1400 level. Downside see the 1.1220/00 area now support and only setback below this will fade upside pressure. [PL]
USD/CHF
Setback to break the .9723 low see pressure returning to the .9661/51 lows. Below this see trendline from the May 2015 low coming into play at .9640. Failure here will trigger further decline to the .9500 level and .9476 support. Resistance now at .9700/23 area. [PL]
USD/JPY
Reversal from the 113.80 high seen weighing and setback see the 112.14/00 area to watch. Failure to hold this will return focus to the downside for retest of the 111.00 level then 110.67 low. Upside see the 113.00 level now reverting to resistance and lift over this needed to pare downside pressure. [PL]
EUR/CHF
Probing higher from the 1.0875 low with break above the 1.0925 resistance seeing stronger recovery towards 1.0944 next. Higher will see scope to 1.0996 then 1.1023 high. Only swing below the 1.0875 support will weaken and expose the 1.0821 and 1.0810 lows to retest. [PL]
GBP/USD
Spurred by the strong rallies seen last 2 sessions, intraday trade remains firm and sustaining long positions with the daily resistance line from 4-Feb's high at 1.4477 targeted ahead of the 18-Mar's high of 1.4514. Setback to attract fresh buyers. [W.T]
EUR/GBP
Pressure stays on the downside and see scope for break of the .7831 low to further extend the drop from .7947 high of last week. Below the .7800 level will expose the .7775 higher low. Would take break of the latter to weaken and see swing focus lower to the .7700 level and .7652 support. Resistance now .7883/.7912 area. [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
USD/JPY pops and drops on BoJ's expected hold
USD/JPY reverses a knee-jerk spike to 142.80 and returns to the red below 142.50 after the Bank of Japan announced on Friday that it maintained the short-term rate target in the range of 0.15%-0.25%, as widely expected. Governor Ueda's press conference is next in focus.
AUD/USD bears attack 0.6800 amid PBOC's status-quo, cautious mood
AUD/USD attacks 0.6800 in Friday's Asian trading, extending its gradual retreat after the PBOC unexpectedly left mortgage lending rates unchanged in September. A cautious market mood also adds to the weight on the Aussie. Fedspeak eyed.
Gold consolidates near record high, bullish potential seems intact
Gold price regained positive traction on Thursday and rallied back closer to the all-time peak touched the previous day in reaction to the Federal Reserve's decision to start the policy easing cycle with an oversized rate cut.
Ethereum rallies over 6% following decision to split Pectra upgrade into two phases
In its Consensus Layer Call on Thursday, Ethereum developers decided to split the upcoming Pectra upgrade into two batches. The decision follows concerns about potential risks in shipping the previously approved series of Ethereum improvement proposals.
Bank of Japan set to keep rates on hold after July’s hike shocked markets
The Bank of Japan is expected to keep its short-term interest rate target between 0.15% and 0.25% on Friday, following the conclusion of its two-day monetary policy review. The decision is set to be announced during the early Asian session.
Moneta Markets review 2024: All you need to know
VERIFIED In this review, the FXStreet team provides an independent and thorough analysis based on direct testing and real experiences with Moneta Markets – an excellent broker for novice to intermediate forex traders who want to broaden their knowledge base.