Danske Research Team
Danske Bank A/S
Break of the 1.1200 level see downside checked at 1.1176 low so far though the downside still not firm and lower will see scope to 1.1154 support then the 200-day MA at 1.1116. Stretched intraday tools caution bounce and see the recent lows at 1.1245 and 1.1271 now reverting to resistance. [PL]
Lift above the .9700/08 area on Fri saw sharp rally to approach the .9800 level. Above this see strong resistance at the .9831, 200-day MA, then .9844 high. Clearance will see scope to the .9900 level then .9950/56, Jul/May highs. Support now at .9725 and .9688, recent high. [PL]
USD/JPY
Extending bounce from the 100.00 level last Fri with lift above 102.00 clearing the way towards strong resistance at the 102.27 and 102.66 highs. Clearance will see scope to the 103.50. Support now at 101.50 then the 101.17/100.93 area. [PL]
EUR/CHF
Rally to break the 1.0925 and 1.0945 highs extending the up-leg from 1.0827 low. Nearby see scope to 1.0986 then the 1.1000 level. Stretched intraday tools caution pullback with the 200-day MA at 1.0925 and then 1.0900 level now support. Only below the latter will return focus to the downside. [PL]
GBP/USD
Sharp reversal from last Friday's high of 1.3279 in the appearance of a large Outside-range is helping to retain downside pressure during intraday trading and eyes lower support at 1.3024 and break will unlease another round of selling. [W.T].
EUR/GBP
Settled into consolidation from the .8485 low though the upside seen limited with resistance now at the .8580/91 area. Would need lift over this to revive upside strength for retest of the .8692/.8725 highs. Lower high sought for retest of the .8485 low later. Break here will see deeper pullback to .8420/00 area then .8344 low. [PL]
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