Danske Research Team
Danske Bank A/S
Interested in more FX key technical levels? Take a look at Swissquote's daily technical outlook.
EUR/USD Daily
Staged rebound from the 1.0781 low to regain the 1.0800 level though the downside still vulnerable and clear break of the latter will trigger deeper pullback to retrace the up-leg from 1.0524, Dec low. Upside see bounce to regain the 1.0900 level needed to fade the downside pressure and return focus to 1.0946 and 1.0993 highs. [P.L]
USD/CHF Daily
Rebound from the .9924 low to regain the parity level saw mkt reaching fresh high at 1.0063 yesterday. Hold above the parity level will see scope for retest of the Mar/Jan 2015 highs at 1.0129 and 1.0240. Beyond this will expose the 1.0328 high to retest. Support now at .9991 then the .9924/00 area. [P.L]
USD/JPY Daily
Bounce from the 118.70 low seen unwinding the stretched intraday tools though the downside still vulnerable. Break of the 118.70 low will see scope to retest the 118.07, Oct low. Upside seen limited with resistance now at 119.70 then the 120.00 level and 120.35, recent low. [PL]
EUR/CHF Daily
Rejection from the 1.0900 level see pressure returning to the downside and keep the Dec high at 1.0940 out of reach. Setback below the 1.0837 low will see room for deeper pullback to the 1.0800 level and where break will expose higher lows at 1.0778 and 1.0756 to retest. [P.L]
GBP/USD Daily
View unchanged from this morning with daily tools a touch oversold and the appearance of a High-wave candle last session at current depth should attract some profit taking from existing shorts and inspire recovery. Only lift above 1.4849 hurdle to trigger a reversal. [W.T]
EUR/GBP Daily
Failed once again to sustain probes above the .7400 level and rejection from .7424 high yesterday see a long upper wick weighing on the daily chart and likely keep the May/Oct highs at .7483/93 out of reach for now. Dips see support now at .7335 and .7308. Would take break of the latter to trigger deeper pullback. [PL]
This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector.
This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange.
Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.
Recommended Content
Editors’ Picks
EUR/USD clings to gains above 1.0750 after US data
EUR/USD manages to hold in positive territory above 1.0750 despite retreating from the fresh multi-week high it set above 1.0800 earlier in the day. The US Dollar struggles to find demand following the weaker-than-expected NFP data.
GBP/USD declines below 1.2550 following NFP-inspired upsurge
GBP/USD struggles to preserve its bullish momentum and trades below 1.2550 in the American session. Earlier in the day, the disappointing April jobs report from the US triggered a USD selloff and allowed the pair to reach multi-week highs above 1.2600.
Gold struggles to hold above $2,300 despite falling US yields
Gold stays on the back foot below $2,300 in the American session on Friday. The benchmark 10-year US Treasury bond yield stays in negative territory below 4.6% after weak US data but the improving risk mood doesn't allow XAU/USD to gain traction.
Bitcoin Weekly Forecast: Should you buy BTC here? Premium
Bitcoin (BTC) price shows signs of a potential reversal but lacks confirmation, which has divided the investor community into two – those who are buying the dips and those who are expecting a further correction.
Week ahead – BoE and RBA decisions headline a calm week
Bank of England meets on Thursday, unlikely to signal rate cuts. Reserve Bank of Australia could maintain a higher-for-longer stance. Elsewhere, Bank of Japan releases summary of opinions.