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17 Apr 2013
Forex Flash: EUR crosses remain bullish – UBS
FXstreet.com (Barcelona) - 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.
In particular, the EUR/USD maintains a bullish outlook, as there is a strong resistance at 1.3228 – a breach of which would open 1.3342, while support is at 1.3022. In terms of the EUR/CHF, resistance is at 1.2173, then 1.2213 – while there is a significant support at 1.2120 as only a break below this would be a major bearish development, suggesting a neutral intraday view.
Moving to the EUR/GBP, there is a bullish bias as resistance is at 0.8602, a break above this would extend the strength to test critical resistance at 0.8648. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 132.05, a break above this would expose 134.38, while support is at 124.94.
In particular, the EUR/USD maintains a bullish outlook, as there is a strong resistance at 1.3228 – a breach of which would open 1.3342, while support is at 1.3022. In terms of the EUR/CHF, resistance is at 1.2173, then 1.2213 – while there is a significant support at 1.2120 as only a break below this would be a major bearish development, suggesting a neutral intraday view.
Moving to the EUR/GBP, there is a bullish bias as resistance is at 0.8602, a break above this would extend the strength to test critical resistance at 0.8648. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 132.05, a break above this would expose 134.38, while support is at 124.94.