Forex Flash: Majors look bullish ahead - UBS
FXstreet.com (Barcelona) - UBS Strategists have taken a look at today's majors from a purely technical perspective.
They begin with EURUSD and note that they are bullish and the risk is for an extension of the latest strength to resistance at 1.3284 and then 1.3386 with support at 1.3067. Looking to USDJPY they are similarly bullish and see that any short term set back appears to be limited and support at 83.10 should hold. They see resistance at 84.48, ahead of 85.32.
Moving to GBPUSD, the team maintain their bullish view and see that the pair continues to extend its strength and is currently testing resistance at 1.6217. The next critical resistance can be found at 1.6309, with support below at 1.6153. Finally, they move to USDCHF, noting that bearish trend conditions persist and a break below first support at 0.9115 would signal extension of weakness to 0.9041 with resistance at 0.9240.
They begin with EURUSD and note that they are bullish and the risk is for an extension of the latest strength to resistance at 1.3284 and then 1.3386 with support at 1.3067. Looking to USDJPY they are similarly bullish and see that any short term set back appears to be limited and support at 83.10 should hold. They see resistance at 84.48, ahead of 85.32.
Moving to GBPUSD, the team maintain their bullish view and see that the pair continues to extend its strength and is currently testing resistance at 1.6217. The next critical resistance can be found at 1.6309, with support below at 1.6153. Finally, they move to USDCHF, noting that bearish trend conditions persist and a break below first support at 0.9115 would signal extension of weakness to 0.9041 with resistance at 0.9240.
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