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11 Apr 2013
Forex Flash: EUR crosses share neutral near-term outlook – 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 neutral outlook, as there is a strong resistance at 1.3134 onto 1.3228. Conversely, support lies at 1.2978 ahead of 1.2890. In terms of the EUR/CHF, resistance is at 1.2230, ahead of 1.2260 – while there is a significant support at 1.2159 only a break below this would be a major bearish development, particularly at 1.2120.
Moving to the EUR/GBP, neutrality also reigns, as resistance is at 0.8560 ahead of 0.8602 and conversely, support is at 0.8463 ahead of 0.8410. It is worth noting that the EUR/JPY is bullish in the near-term. Indeed, trending indicators are firmly bullish, as there is scope for test of critical resistance at 132.05 and then 134.48. Support is at 128.44 ahead of 126.76.
In particular, the EUR/USD maintains a neutral outlook, as there is a strong resistance at 1.3134 onto 1.3228. Conversely, support lies at 1.2978 ahead of 1.2890. In terms of the EUR/CHF, resistance is at 1.2230, ahead of 1.2260 – while there is a significant support at 1.2159 only a break below this would be a major bearish development, particularly at 1.2120.
Moving to the EUR/GBP, neutrality also reigns, as resistance is at 0.8560 ahead of 0.8602 and conversely, support is at 0.8463 ahead of 0.8410. It is worth noting that the EUR/JPY is bullish in the near-term. Indeed, trending indicators are firmly bullish, as there is scope for test of critical resistance at 132.05 and then 134.48. Support is at 128.44 ahead of 126.76.