SWEDEN: Notable Upside Surprise To January Flash Inflation

• RES 4: 93.87 Low Dec 16  
• RES 3: 93.64 High Dec 17  
• RES 2: 93.04 20-day EMA 
• RES 1: 92.88 High Jan 2              
• PRICE: 91.95 @ Close Jan 6 
• SUP 1: 91.64 Low Dec 19 and the bear trigger                         
• SUP 2: 91.58 4.382 proj of the Dec 3 - 4 - 5 minor price swing
• SUP 3: 91.45 4.500 proj of the Dec 3 - 4 - 5 minor price swing
• SUP 4: 91.33 4.618 proj of the Dec 3 - 4 - 5 minor price swing

The trend condition in Gilt futures is unchanged, it remains bearish and recent short-term gains appear to have been corrective. The recent breach of 91.87, the Dec 19 low, confirmed a resumption of the downtrend. Sights are on 91.58 next, a 4.382 projection of the Dec 3 - 4 - 5 minor price swing. Initial resistance is at 92.08, the Jan 2 high. Resistance at the 20-day EMA, is at 93.16, and the average is seen as an important hurdle for bulls.

• RES 4: 0.8448 High Oct 31 and reversal trigger
• RES 3: 0.8376 High Nov 19 and a bull trigger 
• RES 2: 0.8356 High Nov 27
• RES 1: 0.8312/29 50-day EMA / High Dec 27 
• PRICE: 0.8293 @ 07:04 GMT Jan 7
• SUP 1: 0.8263/23 Low Dec 31 / 19
• SUP 2: 0.8203 Low Mar 7 2022 and a major support 
• SUP 3: 0.8200 Round number support
• SUP 4: 0.8188 1.00 proj of the Oct 31 - Nov 11 - 19 price swing

EURGBP remains in consolidation mode and continues to trade closer to its recent highs. Resistance at 0.8312, the 50-day EMA, has recently been pierced. A clear breach of the average would undermine the bear dominant theme and highlight a stronger reversal. A resumption of the primary downtrend would pave the way for a move towards major support at 0.8203, the Mar 7 ‘22 low and the lowest point of a multi-year range. 

SFRZ6/Z7/Z8 fly ~2K given at 0.0