EURUSD is allowed to pause the otherwise paced move higher. Levels at 1.3060 or possibly even 1.2975 could be rechecked… EURJPY has rushed higher, but also a touch too fast. Under 102.53 would call for a 101.76/63 re-check… EURGBP looks set into a correctional decline, possibly towards 0.8025, but most likely not under 0.7963, before breaking higher ground, with the next target at 0.8150… Focus is back on Spain with the 10y yield back testing important support at 6.16-6.46%… AUDUSD could extend losses further and under 1.0400 would also target 1.0323… EURSEK faces resistance at 8.65 while Fri’s 8.5750 mid-body point is likely to attract buyers… USDSEK may still hold a more lasting low in place, but breaks above 6.60 & 6.64\65 are needed to show buyers’ initiative… Below 6.5370 would on the other hand threaten the recent 6.5025 low again… EURNOK also run the upmove under notably stretched conditions. 7.4975-7.5050 could be tested but then with a notable reaction risk, possibly leading back towards 7.42… NOKSEK trades with a small upside bias for another 1.16-test, at least as long as holding above 1.14 it is… USDBRL just rechecked key support and was impressively lifted higher after. Watch 2.05665 closely now… EURPLN may have added a more lasting low, next ref area to watch is located at 4.1205-4.1275… Bunds recheck overhead resistance at 139.41 and US Dec tens could test the recent bearish benchmark candle mid-body point at 131-13… EuroStoxx50 shows signs of weakness, so keep eyes open for a 2509 re-test… The move lower in oil “is under investigation, but $111.11 is as important as it has been for quite some time now…
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SEB tech team