DanskeBank Technical Fx Update

The following is paraphrased from DanskeBank:

EUR/USDBack above the 1.1000 level following bounce from 1.0982 low overnight to unwind stretched intraday tools following setback from 1.1165 high last week. However, upside seen limited with resistance now at 1.1050 then the 200-day MA at 1.1081. Lower high sought to further pressure the downside later.



USD/CHFBreak to fresh high above .9894 saw the upside checked at .9905 high. Further strength on hold for now and dips see support starting at .9837 and .9811 then the .9764 low of last week. Higher low sought to further pressure the upside later, above .9905 high will see strength to target .9956, May high.



USD/JPYFollow-through above the 107.00 level reached fresh high at 107.49 high so far. Nearby see scope to target the 107.63 and 107.90 resistance then the 108.00 level. The latter likely out of reach for now and some consolidation likely before break higher. Dips see support now at 106.32 then the 105.00 level.



EUR/CHFSteady in consolidation from the 1.0838 low though risk is seen for break to expose the 1.0800 level then the 1.0794 low to retest. Upside see lift above the 1.0900 level needed to ease downside pressure and expose the 1.0945 high to retest. 



GBP/USDView unchanged from this morning with the strong rebound towards closing last session settling trade into intraday consolidation and ability to push above 1.3276 resistance will boost gain to 1.3315 ahead of stronger level behind at 1.3481.



EUR/GBPFailed to sustain probes above the .8400 level and rejection from .8427 high keep strong resistance at .8470/91 area out of reach. Pressure now returning to the .8300 level and break here will expose the .8251 low to retest. Below this will see deeper setback to the .8200 level.