The aussie seems to be the prevailing underdog now, with SEK & potentially also the GBP set to continue to underperform… EURUSD is stuck in range and FIRMLY outside outside 1.2820-1.2970 is needed to see a directional tilt… AUDUSD is headed for a 1.0165-1.0100 test and AUDJPY below 79.65 would open Pandora’s box… EUR/SEK above 8.5545 has reopened the path towards 8.6455 with 8.50 +/-100pips supporting it… USDSEK follows in the slipstream and above 8.64.85 would deploy rather ambitious upside targets… EURNOK is doing little, leaving the NOKSEK cross still vulnerable to the upside, now targeting lesser objectives at 1.1625\45 and later 1.1730… EURGBP should also extend gains – then with a 0.8034\41-test penciled in… USDCAD is pounding resistance and over 0.9860 is thought to attract more attention… USDZAR is building on its large bullish triangle, so keep an eye on 8.4985 there… And EURPLN has created a “V-bottom” pointing higher. 4.1250-80 is important now… US & German 10y tenors are thought to score again while the S&P500 & Brent must suffer the hurts from an ailing risk appetite…
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SEB tech team