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17 Jun 2013
Flash: EUR/USD bullish despite nearing January high – UBS
FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.
“With the MACD above its zero line, the potential is for further upside for the EUR/USD. Resistance is at 1.3390 ahead of 1.3520, while support is at 1.3266.” the analysts note. In terms of the EUR/CHF, the sharp sell-off is held by the support at 1.2267. A closing break would trigger deeper sell-off to 1.2196 – resistance is at 1.2344.
Moving to the EUR/GBP, the cross is trading choppy. Strong support at 0.8475 was tested on Wednesday. A closing break here would open 0.8398. Resistance is at 0.8535 ahead of 0.8607.. Finally, concerning the EUR/JPY, The strong support at 124.72; a closing break below this would be further to the downside opening 119.11. Resistance is at 128.12, indicating a bearish outlook.
“With the MACD above its zero line, the potential is for further upside for the EUR/USD. Resistance is at 1.3390 ahead of 1.3520, while support is at 1.3266.” the analysts note. In terms of the EUR/CHF, the sharp sell-off is held by the support at 1.2267. A closing break would trigger deeper sell-off to 1.2196 – resistance is at 1.2344.
Moving to the EUR/GBP, the cross is trading choppy. Strong support at 0.8475 was tested on Wednesday. A closing break here would open 0.8398. Resistance is at 0.8535 ahead of 0.8607.. Finally, concerning the EUR/JPY, The strong support at 124.72; a closing break below this would be further to the downside opening 119.11. Resistance is at 128.12, indicating a bearish outlook.