EURUSD fell back some yesterday and puts some pressure on supports below at 1.2935 & 1.2900/1.2875… The pound is under increasing pressure, both against the dollar and against the euro. The former seems to accelerate and challenge dynamic supports, now at 1.6010-1.5920 while the latter has deployed for a shot at last month’s 0.8114 high… EURJPY looks heavier than EURUSD and below 101.12 would highlight this further… EURSEK trades in what looks like a continuation patter and once broken targeting 8.6850. Support around 8.55… USDSEK has possibly started something bigger to the upside (with initial targets at ~6.7250-6.7700, but not without resistance in the 6.6350-6.7100 zone… EURNOK looks staged to move higher, so look out for buyers above 7.4300 & 7.4420. Support at 7.35… NOKSEK “failed” at fresh short-term highs yesterday, but today will tell if this was just a fluke or not. Support pockets exist at 1.1560, 1.1530 & 1.1500… USDZAR keeps pushing higher for targets at 8.9950 & 9.14… Gold looks short-term toppish and longs should scale down to re-enter in the $1737/1716-area… Dec Bunds & Notes both hold bullish setups, so keep eyes on 141.95 & 133-28 for confirmation… EuroStoxx50 trades with clear downside risks so don’t let 2476 out of sight… Prolongs a bullish flag through responding inter-range buyers…
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SEB tech team