Danske Research Team
Danske Bank A/S
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EUR/USD
Break above the 1.1465 high seeing follow-through to reach 1.1481 high so far and see the 1.1495, Oct high, now within reach. However, stretched intraday tools caution pullback with support now at the 1.1400 level and 1.1370 sustaining the upside focus. [PL]
USD/CHF
Pressure stays on the downside with break of the .9600 level reaching .9568 low. Nearby see risk for retest of the .9549 support then the .9500 level though stretched intraday tools caution corrective bounce. Upside see resistance now at .9657 then the .9700 level. Need lift over the latter to ease downside pressure. [PL]
USD/JPY
Pressure stays firmly on the downside and see the 106.00 level now within reach. Failure to hold this will see further slide to the 105.44/23 support though the stretched intraday tools caution bounce. Upside see resistance now at 106.90 then the 107.63/108.00 area. Would need lift over this to slow downside momentum. [PL]
EUR/CHF
Bounce from the 1.0955 eye return to the 1.1000 level and lift over this will clear the way for retest of the 1.1016 high. Above this will trigger stronger recovery to 1.1061 then the 1.1100 level. Only below 1.0955 low expose deeper pullback to the 1.0930/00 area. [PL]
GBP/USD
Slightly exceeded the Feb high at 1.4668 with fresh high checked at 1.4670. Clearance here will trigger strength to target 1.4786 then the 1.4800 level. Higher lows seen sustaining the up-leg from 1.4091 low with support now at 1.4524 and 1.4475. [PL]
EUR/GBP
Lift over the .7800/12 resistance triggers stronger recovery towards .7882 then the .7900/25 resistance. While the latter caps, risk is seen for pullback to further pressure the downside later. Support now at the .7800 level then the .7755/35 lows. [PL]
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