Forex Flash: Majors hold technical bullish bias – UBS
FXstreet.com (Barcelona) - They begin with EURUSD and note that the pair is approaching important resistance at 1.3127/72 and a break above would open the door to 1.3284 with support below at 1.2996 ahead of 1.2929. Looking to USDJPY, they are bullish and believe that the pair is facing significant resistance at 81.18 and a break above would expose 85 with support below at 82.47.
Looking to GBPUSD, the team continues its bullish outlook, noting that the latest strength stalled just below resistance at 1.6175. There is still scope for more upside and the next resistance can be found at 1.6217/1.6309 with support at 1.6069. Finally, USDCHF looks bearish and the critical support zone can be found at 0.9241/15. A breach below would extend the trend to 0.9041 and resistance can be seen at 0.9328 ahead of 0.9383.
Looking to GBPUSD, the team continues its bullish outlook, noting that the latest strength stalled just below resistance at 1.6175. There is still scope for more upside and the next resistance can be found at 1.6217/1.6309 with support at 1.6069. Finally, USDCHF looks bearish and the critical support zone can be found at 0.9241/15. A breach below would extend the trend to 0.9041 and resistance can be seen at 0.9328 ahead of 0.9383.
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