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Technically be cautious on EUR/USD, EUR/SEK – Deutsche Bank

FXStreet (Delhi) – Oliver Harvey, Macro strategist at Deutsche Bank, presents his technical views on G10 FX.

Key Quotes

“The recent move lower in EUR/USD means the currency scores very highly on our ‘new groundiness’ measure. However, it is highly stretched from an RSI perspective suggesting some caution into the ECB.”

“EUR/SEK is the top technical currency, as it’s highly trending (to the downside) with VHF at 94th percentile and breaking new ground at 97th percentile. It has smooth price action as measured by realized volatility and is not stretched as per RR measure, but it is highly stretched according to RSI measure.”

“USD/CHF is moderately trending (to the upside) with VHF at 73th percentile along with smooth price action in terms of realized volatility measure; however, it is the most stretched pair as per both RSI and risk reversal metrics. Elsewhere, falling EUR/GBP trendiness suggests the move lower has run out of steam.”

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