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
Settling back from the 1.0940 high which keep trade confined within a 4-wk down channel from the 1.1060 high. Dips see support now at the 1.0825/00 area ahead of the 1.0711 low and higher low sought for renewed strength later. Above the 1.0940/46 resistance will clear the way for retest of the 1.0993 and 1.1060 highs. [PL]
USD/CHF Daily
Rejection from the 1.0125 high to break the .9991 support triggers deeper pullback to .9923 low. Risk now seen for further decline to the .9900 level then .9853 support. Below this will see return to the .9800 level. Upside see the parity level now reverting to resistance ahead of 1.0073 then the 1.0125 high. [P.L]
USD/JPY Daily
Staging recovery from the 117.33 low and rally above the 118.00 level see scope for stronger recovery to correct the steep drop this week from above the 120.00 level. Above the 118.60 high see resistance at 118.70/79 area and 119.70. Beyond this see strong resistance at 120.00/35 area. [PL]
EUR/CHF Daily
Bounce from the 1.0827 low keep ranging action in play and resistance seen at the 1.0900 level. Would need lift over this to expose the 1.0940 Dec high to retest. Support is at the 1.0800 level and see break here needed to weaken and expose higher lows at 1.0778 and 1.0756 to retest. [P.L]
GBP/USD Daily
Bullish implication of Hammer set last session and bull-divergence on daily Stochastic are making bears wary at current depth and keeping intraday trade on a firmer tone during intraday trading and push to 1.4682 resistance will help garner upside momentum. [W.T]
EUR/GBP Daily
Follow-through above the .7400/24 area has seen extension to the .7483/93, May/Oct 2015 highs. Clearance here will confirm a 10-mth base pattern and trigger stronger recovery to retrace the down-leg from .8815, 2013 high. Consolidation seen for now while the .7483/93 highs cap with support starting at .7400 level then .7345/08 area. [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.