Danske Research Team
Danske Bank A/S
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EUR/USD
Has not been able to sustain probes above the 1.1400 level though the upside stays in focus and clearing the 1.1412 high will shift focus to the 1.1460/95, Sep/Oct highs. Higher lows from the 1.1144 low of last week keep bulls in control with support starting at 1.1310/00 then the 1.1220/00 area. [PL]
USD/CHF
Break below the .9600 level see the downside checked at .9572 low though the downside still not firm. Lower will see scope to target the .9500 level then .9476, Oct low. Upside see the .9651/61 recent lows now resistance and regaining this needed to see room for stronger recovery to .9723 and .9763/88 area. [PL]
USD/JPY
Still heavy below the 112.68 resistance and see pressure returning to the 112.00 level. Failure to hold this will see setback to the 111.00 level then the 110.67 low. Would need lift over the 112.68 and the 113.00 level to ease downside pressure. [PL]
EUR/CHF
Settling back from the 1.0954 high but upside bias stays in focus with support starting at 1.0906 then the 1.0885/75 lows. Would take break of the latter to weaken and see return to the 1.0821 and 1.0810 lows. Lift above 1.0954 high will see scope to target the 1.1000 level. [PL]
GBP/USD
View unchanged with upmove checked by the daily resistance line and trades drifting lower in intraday consolidation and slippage below 1.4326 support will expose room for deeper setback to 1.4308 ahead of 1.4260. Only lift above 1.4465 hurdle to resume upmove to 1.4514. [W.T]
EUR/GBP
Rally to pressure the .7929/47 highs and clearance here will see resumption of the underlying bull trend and shift focus to the .8000 level next. Beyond this see potential to target .8050, being objective of a 10-mth bottom pattern seen 2015. Support now at .7870 then .7831 low. Only below the latter will swing focus lower. [PL]
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