Forex Flash: Majors look bullish ahead – UBS
UBS Strategists have taken a look at today's majors from a purely technical perspective.
They begin by noting EURUSD's bullish undertones and that the pair is approaching resistance at 1.3284. they feel that a break higher would open the door to 1.3386 and then 1.3493. they see support below at 1.3144 and 1.3067. They have a similar bullish outlook for USDJPY too and note the potential for further upside and have their eyes on 85.00 and 85.32 ahead. They see support at 83.82 and 83.32.
Moving to GBPUSD, they are again bullish and note that trending/momentum indicators are pointing higher and we can watch for a test of critical resistance at 1.6309. They see support below at 1.6195 and 1.6153. Last but not least they come to USDCHF and note that bearish trend conditions are persisting. They feel that the risk is for a potential test of strong support at 0.9041, a break of which would expose 0.9002 with resistance at 0.9187.
They begin by noting EURUSD's bullish undertones and that the pair is approaching resistance at 1.3284. they feel that a break higher would open the door to 1.3386 and then 1.3493. they see support below at 1.3144 and 1.3067. They have a similar bullish outlook for USDJPY too and note the potential for further upside and have their eyes on 85.00 and 85.32 ahead. They see support at 83.82 and 83.32.
Moving to GBPUSD, they are again bullish and note that trending/momentum indicators are pointing higher and we can watch for a test of critical resistance at 1.6309. They see support below at 1.6195 and 1.6153. Last but not least they come to USDCHF and note that bearish trend conditions are persisting. They feel that the risk is for a potential test of strong support at 0.9041, a break of which would expose 0.9002 with resistance at 0.9187.
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