Fx Commentary – EUR seen breaking 1.5750

Break of 1.5750 to trigger stop selling
A break now below 1.5750 on EURUSD is seen accelerating the downmove for the euro as many stops are reported to be lined up below this figure. A clear break – at least 10 minutes – should open the way for a move to 1.5640 and thereafter our target of 1.5610, where three support lines converge. Our stops above 1.5845 break.
On Sterling, we need to see a penetration of 1.9900 to confirm the downmove to 1.9820 but more importantly to 1.9715 area.
Dollar against Swiss franc is on target to touch minimum 1.0360, but more importantly chart objective at 1.0420, where we expect the move to stop for a while.
Dollar is also attempting a break above 107.60 for target approach of 108.10.

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