Back
5 Jun 2013
Flash: EUR/USD could test 1.3194 resistance – 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 suggests there is potential for extension to test the resistance at 1.3194 and then 1.3243. Support is at 1.2956 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 1.2573.
Moving to the EUR/GBP, important resistance is at 0.8607. A break above which would open 0.8656. Meanwhile, 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. Support is at 129.51 ahead of 128.19.
“The latest strength suggests there is potential for extension to test the resistance at 1.3194 and then 1.3243. Support is at 1.2956 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 1.2573.
Moving to the EUR/GBP, important resistance is at 0.8607. A break above which would open 0.8656. Meanwhile, 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. Support is at 129.51 ahead of 128.19.