EURUSD trades too close to the 2012 high (1.3487) not to test it. The broken triangle calls for 1.3545… Some USDJPY selling is going through it seems and perhaps the market is ripe to correctively pare some of the recent gains… GBPUSD is in a tailspin but also stretched. A brief 1.5690\1.5830 pause would suit best before lower again… EURSEK added a notably bearish print yesterday, upping pressure on support around the 8.61-level. Resistance likely around 8.67… USDSEK could be on its way towards the next key ref located at 6.3045… EURNOK is sent the other direction and seems to be in another +7.4720\70 attempt – a bullish break would turn attention to earlier tops at 7.4845 & 7.4995… In all this NOKSEK is sent south, likely to test the next reference cluster at 1.1550/35 (though additional losses beyond this level are also possible)… In the EM space TRY & ZAR seem exceptionally exposed, the former with a notable reversal in the Turkish stock market weighting. Watch 1.7750 in USDTRY now. The next target for USDZAR is located at 9.2380… EURHUF seems more topside hesitant than ideally wished for and a 291.90/288.00 setback has become possible now… EURPLN is resting just below key resistance. Watch 4.2180 above and 4.1515 below for fresh clues… German & US yields keep advancing towards stronger support levels at 1.74-1.87% & 2.34-2.42%… The front SP500 contract is still in a slow grind higher, but much of the momentum is gone now, which increases the risk of a setback. Watch 1475 closely… The Mar Brent Crude contract is pushing for a +$113.84 break…
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SEB tech team