Back
18 Jun 2013
Flash: EUR/USD bullishness intact – 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.
“Any downside will be limited as the EUR/USD bull trend is intact. Support is at 1.3259 ahead of 1.3163. Resistance is at 1.3390 ahead of 1.3520 – 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. Upside should be limited with strong resistance at 1.2386.
Moving to the EUR/GBP, the cross is trading choppy. Strong support at 0.8475 was tested on last Wednesday. A closing break here would open 0.8398. Resistance is at 0.8549 ahead of 0.8607. Finally, concerning the EUR/JPY, the strong support at 124.72; a closing break below this would be further negative opening 119.11. Resistance is at 128.12, suggesting a bearish intraday outlook.
“Any downside will be limited as the EUR/USD bull trend is intact. Support is at 1.3259 ahead of 1.3163. Resistance is at 1.3390 ahead of 1.3520 – 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. Upside should be limited with strong resistance at 1.2386.
Moving to the EUR/GBP, the cross is trading choppy. Strong support at 0.8475 was tested on last Wednesday. A closing break here would open 0.8398. Resistance is at 0.8549 ahead of 0.8607. Finally, concerning the EUR/JPY, the strong support at 124.72; a closing break below this would be further negative opening 119.11. Resistance is at 128.12, suggesting a bearish intraday outlook.