Danske Research Team
Danske Bank A/S
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EUR/USD
Sustaining probes above the 1.1400 level and see scope for retest of 1.1454 high and where break will expose the Oct high at 1.1495 to retest. Beyond this will shift focus to the 1.1714, Aug high. Would take setback below 1.1327 support to trigger deeper corrective pullback. [PL]
EUR/CHF
Consolidating the drop pto 1.0843 low last week and risk is seen for break to see further decline to retest the 1.0821/10 lows. Upside seen limited with resistance starting at 1.0913 and 1.0933. Only lift over these will expose the 1.0954 high to retest. [PL]
USD/CHF
Still slipping and below the .9500 level will expose the .9494/76 lows to retest. Divergence on daily and intraday tools caution bounce with the .9600/26 area to watch as lift over this needed to clear the way for stronger recovery to the .9651/61, recent lows. [PL]
GBP/USD
View unchanged from this morning with trade seen last few sessions a touch choppy in consolidation but so long prices stay below 1.4170 resistance, still prefer to stay on the short side with the downmove from 1.4460 high still dominating. Below 1.4006 to trigger renewed weakness with strong support at 1.3836 targeted. [W.T]
USD/JPY
Pressure stays on the downside following rejection from the 109.10 high on Fri. Sustained break of the 108.00 level will see further decline to 107.39. Further out is the 106.55, 38.2% retracement level. Resistance now at the 109.10/34 area and lift over this needed to clear the way for stronger recovery. [PL]
EUR/GBP
Settled back in consolidation from the .8117 high and further strength will see trendline from the 2008 high coming into play at .8170. Downside see support at .8020/00 area and break needed to ease upside pressure and trigger stronger pullback to .7947/29, recent highs. [PL]
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