USD index is entering a stronger support area… EURUSD added a bullish engulfing candle as a continuation print, but with plenty resistance above extension north is not a done deal… GBPUSD on the other hand added a potentially bearish “Doji” just below thick resistance which could be the harbinger for a fresh bout of pound selling… The NZDUSD rally has been extended, but if volatility (historical or implieds) don’t pick up it will become stretched (ahead of RBNZ Thu)… EURSEK opens up micro-term neutral but SEK longs is still a short-term crowded trade… USDSEK may test an early Dec low at 6.6850… EURNOK looks offered below prior support and could extend losses towards 7.6150 and USDNOK is pressuring a mid-Dec’11 reaction low near 5.84… USDMXN added a potentially bullish print in the favored target zone – warning of a rebound higher… EURHUF & EURPLN trades deeper into support but so far lacking clear bullish prints… US & GER bonds are testing support at or in their 55day average bands while S&P500 looks hesitant at important resistance… Brent crude bounced off support and is confined to stay in range…
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SEB tech team