Danske Research Team
Danske Bank A/S
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EUR/USD
Break of the 1.1300 level swing focus lower to retrace the up-leg from the 1.0822, Mar low. The downside still not firm and lower will target the 1.1218 support and 1.1200 level. Upside see resistance now at the 1.1327/46 area, regaining needed to fade downside pressure. [PL]
USD/CHF
Rally above the .9600 level and follow-through to clear strong resistance at the .9651/61 recent lows swing focus back to the upside. Intraday tools now stretched and see the .9700 level out of reach for now and consolidation likely before further strength seen. Dips see support now at .9594 and .9549. [PL]
USD/JPY
Break of the 109.10 resistance extending recovery from 107.63 low and see scope to target the 110.00 level next. Beyond this see strong resistance at the 110.67, Mar low. Support now at 108.78 and 108.44. Break needed to expose 108.00 level and 107.63 low to retest. [PL]
EUR/CHF
Recovery from the 1.0843 low of last week to regain the 1.0900 level expose the 1.0913 resistance. Lift over this will clear the way for stronger recovery to 1.0933 then 1.0954 high. Only below the 1.0843 low will expose the 1.0821/10 lows to retest. [PL]
GBP/USD
Intraday trade exposed further weakness with the move below 1.4107 support and poised for extension towards the support line of 6-1/2 week triangle at 1.4040 and break will trigger a bearish call and expose more damage on the downside. [W.T]
EUR/GBP
Follow-through below the .8000 level see pressure returning to the Mar/Feb highs at .7947/29. Break here will trigger deeper retrace of the up-leg from the Nov low. Lower will see scope to the .7831 support. Recent lows at .7995 and .8046 now reverts to resistance. [PL]
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