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
Break above 1.1368 extending up-leg from the 1.1217 low and see the 1.1400 level now within reach. Beyond this will clear the way for retest of the 1.1465 high and see scope to target the 1.1500 level. Support at the 1.1300 level and 1.1272 seen sustaining the up-leg from 1.1217 low. [PL]
USD/CHF
Pressure stays on the downside to extend the drop from .9797 high of last week and see scope to target .9625/00 area then the .9585 low of last week. Upside see resistance now at the .9700 level and .9753. Would need lift over these to fade downside pressure and see return to the .9800 level. [PL]
USD/JPY
Failed to hold the 107.77/63 lows and follow-through see the 107.00 level now at risk. Below this will see scope to target 106.55 to retrace 38.2% of the 2011/2015 up-leg. Upside see resistance now at the 107.87/108.00 area, lift over this needed to ease downside pressure. [PL]
EUR/CHF
Settled back in range after failing to clear the 1.1016 high of last week. Support is at the 1.0964 low and swing below this will see deeper pullback to the 1.0930/00 area. Upside see break of the 1.1016/23 highs needed to see strength to the 1.1061 resistance. [PL]
GBP/USD
Intraday trade exposed crack above 1.4640 resistance and helping bulls gain footing with next hurdle at 1.4668 targeted ahead of 1.4786. Only setback below last session's low of 1.4524 to fade current upside risk. [W.T]
EUR/GBP
Recovery from the .7735 low see upside checked at the .7800 level. Would need lift over this and the .7812 resistance to get stronger recovery underway towards the .7855 then the .7900/25 resistance. Bear flag on the daily chart see risk for break of the .7735 to trigger deeper pullback to target the .7700 level and .7684. [PL]
This publication has been prepared by Danske Bank for information purposes only. It is not an offer or solicitation of any offer to purchase or sell any financial instrument. Whilst reasonable care has been taken to ensure that its contents are not untrue or misleading, no representation is made as to its accuracy or completeness and no liability is accepted for any loss arising from reliance on it. Danske Bank, its affiliates or staff, may perform services for, solicit business from, hold long or short positions in, or otherwise be interested in the investments (including derivatives), of any issuer mentioned herein. Danske Bank's research analysts are not permitted to invest in securities under coverage in their research sector.
This publication is not intended for private customers in the UK or any person in the US. Danske Bank A/S is regulated by the FSA for the conduct of designated investment business in the UK and is a member of the London Stock Exchange.
Copyright () Danske Bank A/S. All rights reserved. This publication is protected by copyright and may not be reproduced in whole or in part without permission.
Recommended Content
Editors’ Picks
AUD/USD appreciates amid hawkish RBA ahead of policy decision
The Australian Dollar continued its winning streak for the fifth consecutive session on Tuesday, driven by a hawkish sentiment surrounding the Reserve Bank of Australia. This positive outlook reinforces the strength of the Aussie Dollar, offering support to the AUD/USD pair.
USD/JPY extends recovery above 154.00, focus on Fedspeak
The USD/JPY pair trades on a stronger note around 154.10 on Tuesday during the Asian trading hours. The recovery of the pair is supported by the modest rebound of US Dollar to 105.10 after bouncing off three-week lows.
Gold price extends its upside as markets react to downbeat jobs data
Gold price extends its recovery on Tuesday. The uptick of the yellow metal is bolstered by the weaker US dollar after recent US Nonfarm Payrolls (NFP) data boosted bets that the Federal Reserve would cut interest rates later this year.
Bitcoin miner Marathon Digital stock gains ground after listing by S&P Global
Following Bitcoin miner Marathon Digital's inclusion as an upcoming member of the S&P SmallCap 600, the company's stock received an 18% boost, accompanied by an $800 million rise in market cap.
RBA expected to leave key interest rate on hold as inflation lingers
Interest rate in Australia will likely stay unchanged at 4.35%. Reserve Bank of Australia Governor Michele Bullock to keep her options open. Australian Dollar bullish case to be supported by a hawkish RBA.