Forex Flash: Commodity currencies and Euro crosses broadly neutral – UBS
FXstreet.com (Barcelona) - The UBS strategy team have taken a look at Commodity currencies and Euro crosses from a purely technical perspective.
Beginning with AUDUSD, the team highlight that trend indicators are bullish and there is scope for an extension of the strength to 1.0625 with support ahead at 1.0441 ahead of 1.0393. USD/CD however, is seen to be bearish and the team note key support at 0.9845, with a break below exposing 0.9795. they see resistance at 0.9934, ahead of 0.9962.
Moving to Euro crosses, the team begin with EURCHF which they hold a neutral view of. They see support at 1.2049 ahead of 1.2030 with resistance at 1.2101 ahead of 1.2129. EURGBP too is seen as neutral and while support at 0.8032 holds, they recommend watching for a resumption of the upside. They see resistance at 0.8082 ahead of 0.8169. Finally, EURJPY is neutral too with resistance at 107.08, ahead of 108.00 and important support at 105.28.
Beginning with AUDUSD, the team highlight that trend indicators are bullish and there is scope for an extension of the strength to 1.0625 with support ahead at 1.0441 ahead of 1.0393. USD/CD however, is seen to be bearish and the team note key support at 0.9845, with a break below exposing 0.9795. they see resistance at 0.9934, ahead of 0.9962.
Moving to Euro crosses, the team begin with EURCHF which they hold a neutral view of. They see support at 1.2049 ahead of 1.2030 with resistance at 1.2101 ahead of 1.2129. EURGBP too is seen as neutral and while support at 0.8032 holds, they recommend watching for a resumption of the upside. They see resistance at 0.8082 ahead of 0.8169. Finally, EURJPY is neutral too with resistance at 107.08, ahead of 108.00 and important support at 105.28.
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