The dollar goes into Election Day on a firm footing… Or is the euro that is weak? Either or, EURUSD looks set to extend losses into next support at 1.2748-41… EURJPY also looks soft and ripe to sink to/below refs at 102.18 & 101.60… GBPUSD is trading towards and likely beyond the Oct low of 1.5914… AUDUSD is buoyed by the RBA on hold decision and could lift towards old reaction peaks at 1.0474 & 1.0519, but there is also resistance around 1.0440 to consider. Under 1.0330 would be renewed bearish… EURSEK should sink deeper into its ~8.56/51 support zone while EURNOK looks set to test support below at ~7.31/29… In the EM space we urge focus on the bullish triangle forming in USDZAR – key refs above there at 8.7950 & 8.8370… USDHUF also looks bullishly set for a >221.40 move, short-term targeting 230 next… Dec 10y Bunds & US Dec tens both look positive with attraction points at 142.62 & 133-12 within reach… S&P500 looks directionally indecisive today while Dec Brent Crude staged a remarkable comeback yesterday, which however isn’t enough to change a bigger bearish picture for further losses later…
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SEB tech team