EUR/USD: range-bound with a downward bias - Nordea

Ross J Burland FXStreet

Analysts at Nordera research offered some FX quickies for those of a tactical persuasion.

Key Quotes:

"EUR/USD: range-bound with a downward bias. Wedge broke lower as a result of Italian politics. If 1.1510 doesn’t hold, 1.1448 is next. Below that the next support level is 1.1187."
"EUR/NOK: rising excess bank liquidity a seasonal problem for the NOK even as a first rate hike beckons. Shorts should stay away for a few more weeks."
"EUR/SEK: stuck in a wedge. We look for a break on the upside due to the Riksbank’s newfound focus on too-low services inflation. Core inflation will disappoint the coming week."
"EUR/GBP: Above 0.90 it could look interesting to be long GBP again from a risk/reward perspective. Bank of England seems to have a low tolerance for a weaker GBP."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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