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19 Jun 2013
Flash: EUR/USD still bullish after posting fresh 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.
“The EUR/USD posted a new high and is approaching the resistance at 1.3520 ahead of 1.3711 – support is at 1.3319, indicating a bullish outlook.” 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 to1.2196. Upside should be limited with strong resistance at 1.2386.
Moving to the EUR/GBP, a sharp advance seen yesterday is approaching the critical resistance at 0.8607. A closing break above this would be positive opening 0.8656, while support is at 0.8470. Finally, concerning the EUR/JPY, the cross is consolidating ahead of the strong support at 124.72; a closing break below this would be further negative opening 119.11. Upside should be limited with resistance at 128.34.
“The EUR/USD posted a new high and is approaching the resistance at 1.3520 ahead of 1.3711 – support is at 1.3319, indicating a bullish outlook.” 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 to1.2196. Upside should be limited with strong resistance at 1.2386.
Moving to the EUR/GBP, a sharp advance seen yesterday is approaching the critical resistance at 0.8607. A closing break above this would be positive opening 0.8656, while support is at 0.8470. Finally, concerning the EUR/JPY, the cross is consolidating ahead of the strong support at 124.72; a closing break below this would be further negative opening 119.11. Upside should be limited with resistance at 128.34.