Danske Research Team
Danske Bank A/S
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EUR/USD Daily
Bounce from the 1.0778 low seen consolidating drop from the 1.0976 high of last week to reach the 1.0860 resistance. Regaining the latter will revive upside focus and see return to 1.0940 then the recent range highs at 1.0970/85. Failure to hold the 1.0778 low will expose 1.0711 low to retest. [PL]
EUR/CHF Daily
Stepping higher to break the 1.1000 level and follow-through will see scope to retest the 1.1050, Sep high. Support now at 1.0940 then the 1.0900 level seen sustaining the bullish up-leg from the 1.0756, Dec low. Only below the 1.0900 level will weaken and swing focus to the downside. [PL]
USD/CHF Daily
Settling back from the 1.0168 high which keep the 1.0200 level out of reach for now. Would need lift above the latter to clear the way for retest of the 1.0240 (Jan 2015) and 1.0328 highs. Support now at 1.0107 and 1.0082 and break needed to see deeper pullback to the .9991 and .9959 support. [PL]
GBP/USD Daily
With the daily down trendline from 11-Dec's high keeping corrective upmove in check, intraday trade remains weak and seen inching towards minor support at 1.4205 and expected to give way later to last week's of 1.4080. [W.T]
USD/JPY Daily
Pressure returning to the downside from the 118.88 high after retracing 38.2% of the drop from 123.56 high. Setback below the 118.00 level see the 117.85 and 117.48 support to watch as break of the latter will return focus to the downside for retest of the 117.00 level and 116.47 support. [PL]
EUR/GBP Daily
Strong bounce from the .7526 low to regain the .7600 level see room for stronger recovery to the .7654/70 resistance. Would need to break the latter to return focus to the upside for retest of the .7700 level then .7756 high. Lower high sought for setback later with support now at .7575 then the .7526 low. [PL]
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