The greenback continues to be in demand, pushing several dollar pairs through their key levels. Euro x:s a bit more mixed posting both winners and losers. JPY & Scandies still under pressure. EURUSD eyeing the 1.2974 key support and confo point for a sub 1.2624 move, USDJPY too high, too fast at least if looking in the rear mirror, NZD (and AUD) in the process of passing their 55/233d ma bands further enhancing a bearish view (and so will the soon to come break lower in CRB index, see yday TA), EURSEK bullish recovery from key support = 8.96/9810 test underway, USDSEK now above the critical 6.8460 resistance, EURNOK blowout, creating a more positive wave count as the rise no longer can be labelled corrective (7.75 in a few weeks time??) USDNOK also clearly an impulsive bullish wave pattern, NOKSEK hit hard but still remains in its up trend, EURHUF bull flag should attract buyers, EURPLN finally responding to bottom-ish signs, BONDS fell surprsingly hard and especially the US Note a must watch, EQUITIES many markets entering target areas so some caution near term, OIL still on a positive track but late sellers questions quality of latest rise.
Click here to read the full report: Technical Alert
SEB tech team