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
Settling back from the 1.1365 high to consolidate strong rally this week. Upside see the 1.1376 high now within reach and clearance will see bull extension to target the 1.1400 level. Beyond this will shift focus to the 1.1460/95 highs. First support now at the 1.1300 level then the 1.1220/00 area. [PL]
USD/CHF
Break of the .9661/51 lows saw spike to fresh low at .9593. Rebound there signal a long lower wick and suggest further weakness now on hold. Regaining the .9651/61 recent lows will see room for stronger recovery to .9723 and .9763. Beyond this see strong resistance at .9788 then the 200-day MA at .9820. [PL]
USD/JPY
Pressure stays on the downside and see risk for break of the 112.00 level to see return to the 111.00 level then the 110.67 low. Bounce high at 112.68 marks initial resistance and lift over this and the 113.00 level needed to fade downside pressure for return to the 114.00 level. [PL]
EUR/CHF
Edging higher as break of the 1.0925 see stronger recovery to the 1.0944 resistance. Break here will see scope to retest the 1.0996 and 1.1023 highs. Only swing below the 1.0900 level will expose the 1.0885/75 support. Failure here will weaken and see return to 1.0821 and 1.0810 lows. [PL]
GBP/USD
Spurred by the bearish implication of Shooting-star last session, intraday trade exposed weakness with prices sinking towards intraday support at 1.4308 and break to expose 1.4260 then 1.4195. Only lilft above intraday hurdle at 1.4395 to ease downside pressure. [W.T]
EUR/GBP
Pressure returning to the upside following bounce from the .7831 low and regaining the .7900 level will expose the .7929/47 highs to retest. Clearance will see resumption of the underlying bull trend and shift focus to the .8000 level. Beyond this see potential to .8050 objective. Support now at .7860 then .7831 low. [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
AUD/USD pressures as Fed officials hold firm on rate policy
The Australian Dollar is on the defensive against the US Dollar, as Friday’s Asian session commences. On Thursday, the antipodean clocked losses of 0.21% against its counterpart, driven by Fed officials emphasizing they’re in no rush to ease policy. The AUD/USD trades around 0.6419.
EUR/USD extends its downside below 1.0650 on hawkish Fed remarks
The EUR/USD extends its downside around 1.0640 after retreating from weekly peaks of 1.0690 on Friday during the early Asian session. The hawkish comments from Federal Reserve officials provide some support to the US Dollar.
Gold price edges higher on risk-off mood hawkish Fed signals
Gold prices advanced late in the North American session on Thursday, underpinned by heightened geopolitical risks involving Iran and Israel. Federal Reserve officials delivered hawkish messages, triggering a jump in US Treasury yields, which boosted the Greenback.
Bitcoin Price Outlook: All eyes on BTC as CNN calls halving the ‘World Cup for Bitcoin’
Bitcoin price remains the focus of traders and investors ahead of the halving, which is an important event expected to kick off the next bull market. Amid conflicting forecasts from analysts, an international media site has lauded the halving and what it means for the industry.
Is the Biden administration trying to destroy the Dollar?
Confidence in Western financial markets has already been shaken enough by the 20% devaluation of the dollar over the last few years. But now the European Commission wants to hand Ukraine $300 billion seized from Russia.