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23 Apr 2013
Forex Flash: EUR crosses dominated by neutrality – 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, meanwhile a break below 1.3002 would expose 1.2974 ahead of 1.2920. Resistance is at 1.3129 ahead of 1.3228. In terms of the EUR/CHF, resistance is at 1.2213 ahead of 1.2230, while upport is at 1.2163 ahead of 1.2137, suggesting a neutral intraday view.
Moving to the EUR/GBP, there is a neutral bias, as resistance is at 0.8590 ahead of 0.8648 – support is at 0.8497 ahead of 0.8463. The EUR/JPY is also bullish in the near-term. Indeed, As long as support at 127.82 holds, there is potential for the cross to extend its broader strength to 132.05 and then 134.38.
In particular, the EUR/USD maintains a neutral outlook, meanwhile a break below 1.3002 would expose 1.2974 ahead of 1.2920. Resistance is at 1.3129 ahead of 1.3228. In terms of the EUR/CHF, resistance is at 1.2213 ahead of 1.2230, while upport is at 1.2163 ahead of 1.2137, suggesting a neutral intraday view.
Moving to the EUR/GBP, there is a neutral bias, as resistance is at 0.8590 ahead of 0.8648 – support is at 0.8497 ahead of 0.8463. The EUR/JPY is also bullish in the near-term. Indeed, As long as support at 127.82 holds, there is potential for the cross to extend its broader strength to 132.05 and then 134.38.