Forex Flash: FX Majors hold technical bullish bias ahead – UBS
FXstreet.com (Barcelona) - UBS Strategists have taken a look at today's FX Majors from a purely technical perspective.
They start with EURUSD and state their bullish outlook. They believe that the pair is approaching significant resistance at 1.3140/72 and a break above would extend the broader recovery phase to 1.3284 with support being found below at 1.3046. Looking to GBPUSD, they are again bullish and note that the recent strength suggests that there is potential for a test of resistance at 1.6175 and then 1.6217 with support lying at 1.6016.
The team rounds off their bullish outlooks with USDJPY. They see support at 81.69 has prompted a bounce and the recovery targets resistance at 82.24 with the next resistance at 83.30. Finally, last but not least comes USDCHF. The team have a bearish outlook and note that focus is on support at 0.9215, with a break below exposing 0.9041. They note that resistance ahead can be found at 0.9304 and 0.9341 respectively.
They start with EURUSD and state their bullish outlook. They believe that the pair is approaching significant resistance at 1.3140/72 and a break above would extend the broader recovery phase to 1.3284 with support being found below at 1.3046. Looking to GBPUSD, they are again bullish and note that the recent strength suggests that there is potential for a test of resistance at 1.6175 and then 1.6217 with support lying at 1.6016.
The team rounds off their bullish outlooks with USDJPY. They see support at 81.69 has prompted a bounce and the recovery targets resistance at 82.24 with the next resistance at 83.30. Finally, last but not least comes USDCHF. The team have a bearish outlook and note that focus is on support at 0.9215, with a break below exposing 0.9041. They note that resistance ahead can be found at 0.9304 and 0.9341 respectively.
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