Weaker CAD, AUD & SEK looks increasingly likely.

EUR/USD: The move higher hasn’t changed in shape, nor has itchanged direction. It looks correctional and as such it is stillthought to end somewhere near 1.3550. A session closebelow support at 1.3470/50 ought to pull the safety pins onsome longs and turn focus back towards the post ECB cutlow at 1.3295. A bullish looking session close over resistanceat 1.3630\60 would be reason to reassess this correctionendingscenario.

Read the full report: Technical Alert

 

SEB