There is bearish development unfolding in EURUSD, but under 1.2985 is needed to increase downside pressure… For today a double 128.63/126.01 EURJPY watch seems about right… AUDUSD could recheck yesterday’s 1.0420 mid-body point before turning lower… EURSEK does also need a double 8.3400\8.3910 double watch. The overall picture favors a lower break… USDSEK on the other hand has moved sights back to 6.4650 – over which 6.59 would deserve some attention again… EURNOK is eyeing resistance at 7.5220 & 7.5485. Beyond the latter would start exposing last month’s high of 7.5780 again… NOKSEK under 1.1110 would target 1.1080 & 1.1030… USDCAD has been allowed to exit a bullish flag. Over 1.0249\60\85 would target a fresh >1.0343 high – so stay with longs/add to them on fading dips (1.0183)… Gold plunged yesterday in its biggest single day drop in decades. Though support at $1300/1285 ought to have an impact, but yesterday’s $1431 mid-body point should be strong resistance… The Russian rouble trades weaker with ailing Russian stocks (damage inflicted by sharply lower oil and other resources)… EURPLN has soon completed its bearish “Triangle” and ought to trade lower closer to 4.0930/4.0775… German & US 10y tenors are still making progress. Look for the 10y German yield to fall towards 1.13% and the Jun US tens to lift beyond the recent 133-11 high… The Jun S&P500 contract was sharply rejected from a long-term topline. Further losses must be accounted for with the next important ref located below at 1528… Jun Brent Crude was also heavily injured yesterday with the sub-$100 drop. $95.15/93.60 could be targeted next…
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