Danske Research Team
Danske Bank A/S
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EUR/USD Daily
Weak in range and break of the 1.0800 level see the 1.0778 low at risk. Follow-through below this will expose the 1.0711 low to retest. Upside see resistance now at 1.0860 and lift over this needed to ease the downside pressure and see return to the 1.0900/21 area. Need lift over the latter to see return to the 1.0985 high and 1.1000 level. [PL]
USD/CHF Daily
Recovery to break the 1.0125 resistance last week reached 1.0166 high and see the 1.0200 level now within reach. Above this will clear the way for retest of the 1.0240 and 1.0328, Jan 2015 and 2015 year high. Support now at 1.0050 and .9991 low seen sustaining the bull structure and break of the latter needed to weaken. [PL]
USD/JPY Daily
Recovery from the 115.98 low to reach 118.88 high see mkt now within reach of the 119.00 level. Strength above the latter will see stronger rally to 119.70 to correct approx 50% of the drop from 123.56 high. Beyond this see strong resistance coming into play at the 120.00 level and 120.35, prev low. [PL]
EUR/CHF Daily
Pressure remains on the upside to reach 1.0987 high and see the 1.1000 level within reach. Need lift over this to clear the way for retest of the Sep high at 1.1050. Support is at 1.0908 then the 1.0900 level and only below the latter will weaken and swing focus to the 1.0855/27 area then the 1.0800 level. [PL]
GBP/USD Daily
Intraday trade settled into consolidation and need push above last Friday's high of 1.4363 to revive corrective upmove towards the daily down trendline at 1.4418 and break of the latter will expose more upside potential. Below last Friday's low of 1.4205 will help bears regain footing to strong support at 1.4080. [W.T]
EUR/GBP Daily
Follow-through from the .7756 high last week through the .7617 and .7583 support reached .7526 low and see the .7500 level now at risk. Below this will see retest of the Oct/May 2015 highs at .7493/83 and where break will trigger deeper corrective pullback to the .7443 and .7424 support. [PL]
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