Danske Research Team
Danske Bank A/S
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EUR/USD
Drifting within a narrow range above the 1.1078 low following setback from the 1.1218 high. Below this see support at 1.1058/44 area which must hold to keep near-term focus on the upside. Clearing the 1.1218 high will see strength to target 1.1246 then the 1.1300 level and 1.1376 high. [PL]
USD/CHF
Probes below the .9800 level see the downside kept in check at the 200-day MA. Would take break to see further decline to .9762 and the .9700 level then the .9661 YTD low. Only bounce to regain the .9900 level will ease the downside pressure and set up scope for return to the parity level. [PL]
USD/JPY
Struggles to sustain probes above the 114.00 level and rejection from 114.14 high seeing rotation back to the 113.00 level. Below this will see setback to 112.61 then the 112.16 low. More ranging action seen for now while break of the latter will see return to the 111.00 level. [PL]
EUR/CHF
Lower in range from the 1.1023 high though the downside still limited with support at 1.0935. Would take break to expose the 1.0893 low to retest. Would need lift over the 1.1023 high to extend the 2-wk up-leg from the 1.0810 low. Break will see room for extension to target 1.1061 then the 1.1100 level. [PL]
GBP/USD
Boosted by the Dark-cloud cover last session, intraday trade a touch weaker with prices inching below the 1.4284 support and now eyeing 1.4255 and below latter will help bears regain downside footing to 1.4118. [W.T]
EUR/GBP
Setback from the .7848 high of last week see the downside checked at .7736 low. Strength to regain the .7800 level needed to expose the .7848 high to retest and clear the way for return to the .7900 level then .7929 high. Below the .7736 low will expose the .7700 level and .7652 low to retest. [PL]
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