The dollar remains on the defence for now & scandies are in a rout

EUR/USD near-term impulse is coming clear and the next ref at 1.2532 lies within reach… EUR/USD is challenging resistance at 1.2532. Near-term bullish scenario is happier without decline back below supports at 1.2362/43… USD/JPY offers likely near 118.75, arguing for another attempt at 117.24… EUR index trades closer to a short-term bullish trigger at 107.61… EUR/SEK is bullishly homing in on short-term key resistance at 9.3840\900… USD/SEK directional pull is weaker; watch both 7.4830 & 7.5555 for guidance… EUR/NOK going wild & bid into today’s NB rate decision. Nearby refs above to keep in mind are located at 8.9500 & 8.9875… NOK/SEK is in a grind lower. Key refs above and below to keep an eye on are located at 1.0435 below and 1.0605 above… AUD/NZD should extend losses, with a little patience targeting 1.0385… Spot Gold retains upside pressure and resistance at 1,238\1,255 is targeted… USD/CNH is pausing (not reversing) the earlier ascent and should find support no later than at 6.1627… EUR/PLN added a bullish benchmark candle yesterday and this point even higher – expect 4.1880 to become tested before long… The Mar Bund contract attracts two-way traffic around an ascending line of resistance… The Mar US tens could re-check/temporarily violate a recent 127-18 high… The Dec S&P500 contract risks expiring in peril. Next key ref below becoming exposed is located at 2,015… The Jan Brent Crude contract is refused a respite… Extension to and below the $60-mark is a vivid possibility…

Read the full report: Technical Alert