Jens Nærvig Pedersen
Danske Bank A/S
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EUR/USD
Pressure stays on the upside and targets the 1.1561 and the 1.1600 level next. Beyond this will see scope to the Aug 2015 high at 1.1714 though this likely out of reach for now. Stretched intraday tools caution pullback with support now at 1.1450 and the 1.1400/1.1370 area protecting the downside. [PL]
EUR/CHF
Break above the 1.1000 level expose the 1.1016 high to retest. Clearance here will resume the up-leg from the 1.0843 low and see stronger recovery to target 1.1061 then the 1.1100 level. Only below 1.0964/55 lows will see deeper pullback to the 1.0930/00 area. [PL]
USD/CHF
Still weak despite the stretched intraday tools and break of the .9535 low will see retest of the .9500 level. Below this will see further weakness to .9476/55 area. Upside see resistance now at .9605 then the .9657/00 area. Would need lift above the latter to ease downside pressure. [PL]
GBP/USD
Strong rally towards closing last session keeping intraday trade on a firm tone and eyeing next hurdle at 1.4726 ahead of 1.4806. It would take a setback below 1.4577 support to inspire pullback to 1.4524 then 1.4475. [W.T]
USD/JPY
Reached 106.05 low and risk seen for break here to see further slide to the 105.44/23 and 104.69 support. However, stretched intraday tools and divergence on daily tools caution bounce with resistance now at 106.90 then the 107.63/108.00 area. Need lift above the latter to see stronger recovery. [PL]
EUR/GBP
Extending recovery from the .7735 low to reach .7866 high and see scope towards .7882 then strong resistance at the .7900/25 area. While the latter caps, risk is seen for pullback to further pressure the downside later. Support now at the .7822/00 area, break here needed to return focus to the .7755/35 lows. [PL]
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