Forex Flash: FX majors hold bullish bias – UBS
FXstreet.com (Barcelona) - UBS Strategists have taken a look at today's majors from a purely technical perspective.
Beginning with EURUSD, they hold a bullish outlook and feel that a break above important resistance between 1.3127/72 would trigger an extension of gains to 1.3284. They see support at 1.2996 ahead of 1.2929. Moving to USDJPY, the maintain their bullish view and note that the pair is targeting significant resistance at 84.18 and a break above would extend the bull trend to 85. they see support below at 83.13.
Moving to GBPUSD, they maintain their bullish view and see that a move above 1.6175 would signal further upside in the near term to 1.6217/1.6309 with support below at 1.6069 ahead of 1.6003. Finally, they hold an understandably bearish view of USDCHF and note that the pair is approaching critical support at 0.9215, a breach of which would extend the bearish trend to 0.9041 with resistance above at 0.9276 and 0.9328.
Beginning with EURUSD, they hold a bullish outlook and feel that a break above important resistance between 1.3127/72 would trigger an extension of gains to 1.3284. They see support at 1.2996 ahead of 1.2929. Moving to USDJPY, the maintain their bullish view and note that the pair is targeting significant resistance at 84.18 and a break above would extend the bull trend to 85. they see support below at 83.13.
Moving to GBPUSD, they maintain their bullish view and see that a move above 1.6175 would signal further upside in the near term to 1.6217/1.6309 with support below at 1.6069 ahead of 1.6003. Finally, they hold an understandably bearish view of USDCHF and note that the pair is approaching critical support at 0.9215, a breach of which would extend the bearish trend to 0.9041 with resistance above at 0.9276 and 0.9328.
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