Technical Analysis

€/$ key resistance at 1.3140 survived at least the first attemt, YEN has weakend some but whereas USDJPY looks like a bullish continuation pattern EURJPY looks tired, BOND yields continues to come off and so does commodities (in particular oil and precious metals). EURUSD rejected from close to key resistance but needs staying power below 1.3022 to add bearish momentum, EURJPY adding also a possible Bollinger triple top to an already exhausted move, $ index a mildly bullish piercing pattern printed, EURSEK extended correction potential to 8.59/6050, EURNOK eyeing low end of the range, 8.3310, NZDUSD eyeing some really important m/t resistance, USDTRY kind of a spring bottom suggests returning buyers, BUNDS heading for new highs, US Notes at a new contract life high, S&P500 no directional tilt for the day, OIL risks a break lower (after the false upside break Monday).

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SEB tech team