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
Backed off the 1.1338 high to consolidate up-leg from Mon's 1.1087 low. Hold above the latter and the 1.1060 support keep bulls firmly in control and clearing the 1.1338 high will see scope to target the 1.1400 level next. Clearance here will shift focus to the 1.1460 and 1.1495, Sep/Oct highs. [PL]
USD/CHF Daily
Edged off the .9695 low but the downside still vulnerable following sharp drop from the 1.0257 high. Sustained break of the .9700 level will see further decline to .9612 then the .9578 support. Upside see the Dec low at .9786 now resistance and regaining this needed to ease downside pressure. [PL]
USD/JPY Daily
Tracing out a descending triangle above the 114.21 low and risk seen for break to see further decline to target 113.86 and 113.17 support. Sustained break of the 116.18 and 115.57 (Dec 2014 low) this week triggers a 14-mth top pattern and see mkt now retracing the 2011-2015 recovery. [PL]
EUR/CHF Daily
Edged off the 1.0958 low to consolidate the sharp drop from the 1.1200 high of last week. Lower will see deeper corrective pullback to the 1.0900 level. The 1.1019/34 lows now resistance while lift above 1.1100 level is needed to fade the downside pressure and clear the way back to the 1.1200 level. [PL
GBP/USD Daily
View unchanged from this morning with intraday trade stuck in consolidation and need a downside break of 1.4352 support to revive decline to 1.4327 then 1.4229. On the upside, lift above 1.4547 hurdle will see 1.4668 high targeted. [W.T]
EUR/GBP Daily
Backed off the .7851 high to consolidate strong rally from the .7526 low of last week. Some unwinding possible and see the .7756/31 support to watch as break will see room for stronger pullback to .7666/61 area. Clearing .7851 will see resumption of the 10-mth base pattern to target the .8050 objective. [PL]
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