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4 Jun 2013
Flash: EUR/USD faces neutral intraday 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.
“The latest strength of the EUR/USD suggests there is potential for extension to test the resistance at 1.3194 and then 1.3243. Support is at 1.2934 ahead of 1.2797, indicating a neutral outlook” the analysts note. In terms of the EUR/CHF, there is a strong support at 1.2329. While this holds and as MACD is above its zero line, the potential is for resumption of upside – resistance is at 1.2487 ahead of 1.257.
Moving to the EUR/GBP, the recent setback was prompted by an important resistance at 0.8607. A break above which would extend the strength to 0.8656. Support is at 0.8475 ahead of 0.8421. Finally, concerning the EUR/JPY, the cross is under consolidation phase and a closing cross higher in momentum would resume the broader bull trend. Resistance is at 132.15 ahead of 134.38, while support is at 128.98 ahead of 128.19.
“The latest strength of the EUR/USD suggests there is potential for extension to test the resistance at 1.3194 and then 1.3243. Support is at 1.2934 ahead of 1.2797, indicating a neutral outlook” the analysts note. In terms of the EUR/CHF, there is a strong support at 1.2329. While this holds and as MACD is above its zero line, the potential is for resumption of upside – resistance is at 1.2487 ahead of 1.257.
Moving to the EUR/GBP, the recent setback was prompted by an important resistance at 0.8607. A break above which would extend the strength to 0.8656. Support is at 0.8475 ahead of 0.8421. Finally, concerning the EUR/JPY, the cross is under consolidation phase and a closing cross higher in momentum would resume the broader bull trend. Resistance is at 132.15 ahead of 134.38, while support is at 128.98 ahead of 128.19.