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18 Apr 2013
Forex Flash: EUR offer mixed 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 support at 1.2974, ahead of 1.2920, meanwhile resistance lies at 1.3228. 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 he cross came under pressure from resistance at 0.8648. A closing break above would open 0.8747, while downside should be limited and support is at 0.8490. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 129.74, though a break above this would expose 132.05. Conversely, support is at 126.44, ahead of 124.94.
In particular, the EUR/USD maintains a neutral outlook, as there is a support at 1.2974, ahead of 1.2920, meanwhile resistance lies at 1.3228. 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 he cross came under pressure from resistance at 0.8648. A closing break above would open 0.8747, while downside should be limited and support is at 0.8490. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 129.74, though a break above this would expose 132.05. Conversely, support is at 126.44, ahead of 124.94.