EURUSD is consolidating recent losses just above the yearly low and this is primarily not seen as a turn, but merely a pause… EURJPY is paused not reversed. Next target on a near-term range breakout is located at 117 +/-20pips and resistance is likely firm in the ~121\122 zone…GBPUSD mounts pressure for another dive. Levels south of the 1.50 mark lie within reach… EURSEK added a small near-term downside tilt upping the chance for a 8.4150/8.4015 re-check… USDSEK is paused below resistance but supports at 6.4425, 6.4160 & 6.3535 are thought to keep Jan peaks at 6.5530 & 6.5930 within reach… EURNOK trades in a bullish “flag” within another “flag” of a higher degree. Above 7.4935 would show buyers’ renewed imitative and argue for fresh highs… NOKSEK looks set to squeeze out one more low – keep 1.1225/1.1209 in mind as the next objective zone… In the EM space techs detects weakness in the HUF & ZAR, especially so against the dollar. The former is pausing recent gains before rallying again and the latter is bottoming out after a correction lower… German & US yields are dropping, more so in Germany, but its US peer is soon to follow… Simultaneously European equities look far more vulnerable than its US peers, but there is resistance also in the S&P500 just above at 1,501. EuroStoxx50 below 2,546 would hurt and likely accelerate the slump towards 2,448… Brent Crude is though to encounter better support on top of $111.54/110.12…
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