Danske Bank Technical Update

The following is paraphrased from Danske Bank:

EUR/USD
Pressure stays on the downside and see risk for further slide to extend the down-leg from 1.1165 high. Below the 1.0956 low see risk for drop to retest the 1.0913, Jun low. Upside see resistance at 1.1025 then the 200-day MA at 1.1077. Would need lift over this to fade downside pressure and clears the way for retest of the 1.1165/86 highs.



USD/CHF
Locked in range below the .9907 high with downside checked at .9841 low. Break here needed to trigger a small top pattern and see deeper pullback to correct recent strength. Lower will see scope to the .9800 level then .9764 support. Above the .9900 level will expose the .9956 high to retest.



USD/JPY
Higher in range from the 105.42 low though the upside still limited above the 106.00 level. Risk is seen for deeper pullback to retrace up-leg from the 100.00 low to the 105.00 level. Below the latter will trigger deeper pullback to 104.64 and 103.91 support. Resistance now at 106.53/87 then the 107.49 high.



EUR/CHF
Rejection from the 1.0904 high last week reached 1.0830 low. Risk is seen for break to trigger deeper pullback to the 1.0800 level and 1.0794 support. Would need lift over the 1.0900 level to ease downside pressure and set up scope for retest of the 1.0945 resistance.



GBP/USD
Pressure stays on the downside though the 1.3065/47 support protecting the downside. Would take break here to return focus to the 1.2800 level. Resistance is at 1.3291 then the 1.3481 high. Clearance here needed to trigger a bottom pattern and see stronger recovery. 



EUR/GBP
​Locked within a narrowing range from the 8251 low and the resulting triangle pattern suggest risk for break lower to extend the drop from .8627 high. Upside seen well contained with resistance at .8427 then .8470/91 area. Break of the .8251 low will see deeper pullback to retrace up-leg from .7602 low.