Danske Research Team
Danske Bank A/S
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EUR/USD
Settling back from the 1.1060/68 resistance and below the 1.1000 level expose the 1.0940 support and 1.0900 level to retest. Break of the latter will return focus to the downside and see risk for setback to the 1.0826 low. Lift over the 1.1060/68 resistance needed to trigger stronger recovery. [PL]
USD/CHF
Ranging action persist though higher lows at .9879 and .9853 seen supportive and keep pressure on the upside. Clear lift over the parity level will expose 1.0012/38 highs to retest where clearance will see scope to 1.0074 and 1.0125. Only below the .9879/53 support weakens. [PL]
USD/JPY
Pressure stays on the downside following break of the 113.00 level yesterday and see risk for deeper setback to retest the 112.16 low of last week. Below the latter will expose the 111.00 level to retest. Resistance now at 113.13/22 area and regaining this needed to ease downside pressure. [PL]
EUR/CHF
Keeping below the 1.0975 high though hold above the 1.0911 low seen keeps pressure on the upside. Clearing the 1.0975 high will see further strength to target the 1.1000 level. Would take setback below 1.0911 and the 1.0880/75 area to expose the 1.0810 low to retest. [PL]
GBP/USD
With corrective upmove stopped short of the daily down trendline from 11-Dec's high, prices are drifting into consolidation during intraday trading . Downside break of 1.4134/08 supports will provide the impetus for stronger setback to 1.4033. [W.T]
EUR/GBP
Pressure returning to the downside following rejection from .7793 high. Consolidation above the .7691 low seen tracing out a bear flag and see eventual breakdown to trigger a top pattern. Lower will resume the drop from the .7929 high and retrace the strong up-leg from the .6983, Nov low. [PL]
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