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
Intraday trade consolidative but the bullish breakout of 7-week triangle last session is keeping focus on the upside with the projected objective of this formation targeted at 1.1270 , using the widest part of this triangle as measuring yardsticks. [W.T]
USD/CHF Daily
Sharp decline below 1.0110 support last session , enforced by the negative cross-over seen on daily MACD are turning pressure towards downside and slip of 0.9988 low set prior session will trigger extension to 0.9959 then 0.9929. [W.T]
USD/JPY Daily
Intraday trade consolidative but the sharp decline last session with the break of 117.66 support , enforced by the negative stance seen on daily tools are helping bears regain footing and shifting focus lower towards next target at 115.98. Shorts favoured. [W.T]
EUR/CHF Daily
Lack of corrective pullback is helping bulls turn pressure towards the 1.1166 high and need a sustained lift above latter to resume uptrend to 1.1200 ahead of the 50% retracement mark at 1.0256. Only setback below 1.1100 support to trigger pullback. [W.T]
GBP/USD Daily
Sharp move above 1.4446 resistance last session, supported by the positive stance seen on daily tools are setting more upside potential with focus shifting higher to the 50-day MA line at 1.4714 then 1.4786. Intraday dips to attract buyers. [W.T]
EUR/GBP Daily
Bears failed to take out the .7526 support last session and rebound towards closing in the appearance of a Hammer is easing downside pressure as trade shifted into consolidation. Lift above .7623 hurdle will trigger further gain to .7666 then .7756. [W.T]
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Editors’ Picks
AUD/USD remains firm above 0.6600 ahead of RBA
AUD/USD maintains its bullish bias well and sound on Monday, extending the multi-session recovery past the 0.6600 barrier ahead of the key interest rate decision by the RBA.
EUR/USD keeps the constructive tone near 1.0800
EUR/USD started the week in a positive note amidst the Dollar’s inconclusive price action, altogether motivating the pair to attempt a move to the proximity of the 1.0800 region, where the 200-day SMA also converges.
Gold holds on to modest gains around $2,320
Gold trades decisively higher on the day above $2,320 in the American session. Retreating US Treasury bond yields after weaker-than-expected US employment data and escalating geopolitical tensions help XAU/USD stretch higher.
Bitcoin price holds above $63K as MicroStrategy tops BTC ownership list
Bitcoin (BTC) price recorded a rather bold two days this past weekend in a surge that saw millions in positions liquidated. However, the week is off to a calm start with altcoins sucking liquidity from the BTC market.
Stagflation warning: Service economy contracts as prices rise
In another stagflation warning sign, the U.S. service sector contracted in April even as service prices rose. The Institute for Supply Management's non-manufacturing PMI dropped to 49.4 in April, dipping from 51.4 in March.