Peter Possing Andersen
Danske Bank A/S
Interested in more FX key technical levels? Take a look at Luc Luyet's daily technical outlook.
Majors
EUR/USD: LOOK TO SELL 1.1390/1.1400
USD/JPY: BUY AT 118.95 FOR 120.57, STOP 118.02
GBP/USD: BUY AT 1.5405 FOR 1.5659; STOP AT 1.5315
USD/CHF: SHORT AT .9540 FOR REVISED .9302; STOP AT .9601
AUD/USD: LONG AT .7218 FOR .7497, STOP AT .7195
USD/CAD: SHORT STOPPED, BUY DIPS
Crosses
EUR/JPY: SHORT AT 135.60 FOR 133.44, STOP 136.10
EUR/GBP: REVISE SELL AT .7335 FOR .7197; REVISE STOP AT .7400
EUR/CHF: SELL AT 1.0865 FOR 1.0713; STOP AT 1.0925
EUR/CAD: SHORT AT 1.4715 FOR 1.4387 OBJ, STOP 1.4855
GBP/JPY: LONG AT 183.20 FOR 187.37; STOP AT 182.75
NZD/USD: BUY AT .6745 FOR .6937; STOP AT .6680
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Editors’ Picks
EUR/USD retreats to 1.0750 area as USD recovers
EUR/USD stays under modest bearish pressure and trades slightly below 1.0750 in the European session on Wednesday. Hawkish comments from Fed officials help the US Dollar stay resilient and don't allow the pair to stage a rebound.
GBP/USD drops below 1.2500 ahead of Thursday's BoE event
GBP/USD stays on the back foot and trades in negative territory below 1.2500 after losing nearly 0.5% on Tuesday. The renewed US Dollar strength on hawkish Fed comments weighs on the pair as market focus shifts to the BoE's policy announcements on Thursday.
Gold stays near $2,310 as US yields edge higher
Following a quiet Asian session, Gold retreated slightly to the $2,310 area. Hawkish tone of Fed policymakers help the US Treasury bond yields edge higher and make it difficult for XAU/USD to gather bullish momentum.
Ethereum resume sideways move as Grayscale files to withdraw Ethereum futures ETF application with the SEC
Ethereum is hinting at a resumption of a sideways movement on Tuesday after seeing inflows for the first time in seven weeks. Grayscale withdrew its application for an Ethereum futures ETF, and the SEC’s Chair Gary Gensler has also called most crypto assets securities.
No obvious macro catalysts to steer the bus
The US data calendar remains relatively light, with initial jobless claims and the University of Michigan survey being the key focus. However, these releases may not provide a significant catalyst for the next directional move in the US Dollar.