Technical Analysis

EUR/USD & EURJPY slightly lower, backing off their respective trend lines. Especially the EURJPY move looks encouraging and even more so if ending today in negative territory, CABLE hard hit and more downside seen so seek a sell toward 1.6070/80, EURSEK now into its target zone but probably a temporary dip below it, USDSEK spiking in the former channel is a positive sign, EURNOK down from triangle but still needs a 7.3530 break, NOKSEK buyers should prepare to act, USDZAR spring bottom points higher, EURHUF long downside spike below primary target range calls for caution, if short, BONDS sell off halted, S&P500 hesitating ahead of resistance, OIL tested (and will again test) support & GOLD gave up most of Tue/Wed gains.

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SEB tech team