Danske Research Team
Danske Bank A/S
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EUR/USD Daily
Downside bias from the 1.0993 high of last week checked at 1.0827 low so far. Would take break of the 1.0800 level to weaken and see deeper pullback to further retrace the up-leg from 1.0524, Dec low. Resistance now at the 1.0900 level and 1.0944. [P.L]
USD/CHF Daily
Struggling to sustain probes above the parity level with resistance now at the 1.0029/34 highs. Clearance needed to see stronger recovery to the 1.0122/44 resistance. More consolidation below the parity level seen for now ahead of further upside attempts with support now at .9944 and the .9900 level. [P.L]
USD/JPY Daily
Still slipping following break of the 120.00 level as mkt extend rejection from the 123.56, mid-Dec high. Nearby targets 119.41 next then the 119.00 level. Below the latter will shift focus to the 118.63 then 118.07, Oct low. Resistance now at the 120.00 level then recent lows at 120.35 and 120.73. [P.L]
EUR/CHF Daily
Settling back from the 1.0897 high of last week and strength to clear this needed to swing focus higher to retest the Dec high at 1.0940. Support now at 1.0800 level with higher lows at 1.0778 and 1.0756 seen supportive of the upside bias for further test of the 1.0900. [P.L]
GBP/USD Daily
Intraday trade extended to 1.4694 low this morning but strong recovery from the latter is stalling decline with trade drifting into consolidation and need higher clearance of 1.4849 hurdle to trigger stronger rebound. [W.T]
EUR/GBP Daily
Consolidation the opast 2-wk below the .7416 high tracing out a triangle pattern and suggest break to further extend rally from the .6983, Nov low. Lift over this will shift focus to the .7483/93, May/Oct highs. Clearance of the latter will confirm a 10-mth base in place and see stronger recovery. Support now at .7335 and .7308. [PL]
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