Several EUR pairs having reached their first upside correction targets (in some cases some room left) and the market should hence be vulnerable to renewed weakness. AUDUSD is approaching rather important resistance levels in the 1.0480/0570-area, EURSEK still looks set to try 8.78, possible 8.70. EURNOK clouded short term pattern, NOKSEK downside failure yesterday together with a growing bull divergence makes the cross a must watch, USD/EM such as MXN & ZAR continues to drift south and will likely extend the move further, EURHUF still offered whereas EURPLN should meet firming support, Bond yields up a few points in a corrective bounce, EQUITIES slowing ahead of resistance, OIL more ranging seen and GOLD entering the 55d ma band resistance.
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SEB tech team