The following has been paraphrased from the Danske Bank Research Team in their daily technical update.
Settling back from the 1.1355 overnight high which stands just below the 1.1366, high of last week. Below the 1.1300 level return focus to the 1.1271 low and where break will trigger a top pattern and see deeper pullback. Lower will see scope to the 1.1234/21 area then 1.1200.
Intraday trade consolidating and need a sustained break of upper resistance line of 7-week triangle at 1.3239 to garner upside momentum. Failure to do so and a downside break of 1.3130 support will see bears attempting the lower side of this formation.
Remains above the 99.65/54 low of last week with consolidation tracing out a small triangle pattern and see risk for break lower to expose the 99.02 low to retest. Upside see lift over the 100.93 high and the 101.17/45 area needed to ease downside pressure and trigger stronger recovery to 102.27/66 area.
Keeping just below the .9649/59 highs though the bounce from .9537 low seen tracing out a bottom pattern. Clearance will trigger stronger recovery to retrace the down-leg from .9844 high towards the .9700 level. Support now at the .9589/.9582 area ahead of the .9537 low.