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
Strong start to the week seeing extension of the rally from 1.0711 low last week with break above the 1.0940/46 area shifting focus to the 1.1000 level next. Beyond this will see the 200-day MA coming into play at 1.1045 then strong resistance area at 1.1060/87. Support now at the 1.0853 then 1.0800 level. [PL]
USD/CHF Daily
Break of the .9923 support and .9900 level seeing follow-through from the 1.0125 high of last week and see the .9853 support now within reach. Below this will see return to the .9800 level. Upside see the resistance now at the parity level and 1.0052, Fri's high. [P.L]
USD/JPY Daily
Weak start see resumption of the down trend from the Nov high as mkt extend the rejection from Fri's 118.83 high. Break of the 117.00 level see nearby support at 116.66 then 116.18, Aug spike low. Below this will expose the 115.86, 2015 low. Resistance now at 118.25 then the 118.83, Fri's high. [PL]
EUR/CHF Daily
Steady within a narrow range with hold above the 1.0827 low keep ranging action in play. Resistance is at the 1.0900 level and see lift over this needed to expose the 1.0940 Dec high to retest. Downside see break of the 1.0800 level needed to weaken and expose higher lows at 1.0778 and 1.0756 to retest. [P.L]
GBP/USD Daily
Downside stays in focus and break of the 1.4500 level reached 1.4494 low so far. Clear break here will see further decline to 1.4394 and 1.4346 then the 1.4228, 2010 low. Resistance now at the 1.4600 level and 1.4645. Would need lift over this to ease downside pressure and see stronger bounce. [PL]
EUR/GBP Daily
Rally through the .7483/93, May/Oct 2015 highs confirm a 10-mth base pattern and signals reversal of the 7-yr decline from .9800 level seen Dec 2008. Nearby see strong resistance coming in at .6592 then .7654, a 38.2% retracement level. The .7483/93 highs now first support ahead of the .7424/00 area. [PL]
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