Forex Analysis: EUR/USD, EUR/CHF, USD/CHF, GBP/USD, USD/JPY, EUR/GBP - Danske Bank

Forex Analysis: EUR/USD, EUR/CHF, USD/CHF, GBP/USD, USD/JPY, EUR/GBP - Danske Bank

2 June 2016, 08:20
Roberto Jacobs
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Forex Analysis: EUR/USD, EUR/CHF, USD/CHF, GBP/USD, USD/JPY, EUR/GBP - Danske Bank


EUR/USD

Strength above the 1.1200 level extending recovery from the 200-day MA and target the lower highs at 1.1217 and 1.1243. Above the latter will see scope to 1.1283 then the 1.1300 level. Support now at the 1.1173/50 area seen protecting the 1.1114 and 1.1098 lows. [PL]

EURUSD-636004427110149381.jpg



EUR/CHF

Bounce from the 1.1024 low clears the way for return to the 1.1075 and 1.1087 highs. Would need lift over these to expose the 1.1109 and 1.1129 highs to retest. However, while the latter caps risk is seen for a 4-wk top pattern at the 1.1129 high with the 1.1024/16 support to watch as break will trigger deeper pullback. [PL]

EURCHF-636004428187018406.jpg



USD/CHF

Setback to break the .9887 and .9872 lows signals a small top at the .9951/56 highs and see risk for pullback to the 200-day MA at .9850. Below this will see deeper retracement to the .9800 level and .9763 support. Resistance now at the .9900 level then the .9956 high. [PL]

USDCHF-636004428681002744.jpg



GBP/USD

Tight intraday trading but pressure stays on the downside, spurred by the sharp decline seen last 2 sessions and targets the 1.4340 strong support and expect the latter to attract profit taking from existing shorts and ease downside pressure. Recovery from here to attract fresh sellers with resistance seen at 1.4443 ahead of 1.4508. [W.T]

GBPUSD-636004429017605514.jpg



USD/JPY

Follow-through to break the 109.00 level extending the drop from 111.45 high and see scope to target lower support at 108.72 and 108.23. Upside see resistance now at 109.70 then the 110.00 level. Would need to regain the latter to ease downside pressure. PL]

USDJPY-636004430101175330.jpg



EUR/GBP

Rally to break the .7735 and .7754 resistance extending strong up-leg from the .7573/65 lows and see scope to target the .7800 level. Beyond this will see further strength to .7846. Support now at the .7700 level and .7671 seen protecting the downside. [PL]

EURGBP-636004429454457791.jpg



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