Key-day reversals were yesterday printed in many major markets, indicating that the post Greek election fast faded. EURUSD & Co. ought to build up renewed downside (USD bullish) momentum, perhaps with the aussie being a tad more resilient as it looks like AUDUSD must test 1.0170\1.0250 before turning south again. EUR/scandies are doing nothing and we should follow the dollar crosses instead… Spanish yields (over the whole curve) are burdening the euro and the EUR index hit a brick wall at already confirmed resistance in the mid-100s… HUF & PLN fares poorly in this environment and further weakening from yesterday’s U-turns should be expected… US & German 10y tenors also U-turned yesterday and both ought to gain upside momentum (lower yield)… EuroStoxx50 is another major index now forced to absorb a “Key-day reversal” (through lower levels)… Brent Crude goes the same way and the recent $95.21 low now lies in harms way…
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SEB tech team