Forex Flash: Majors mixed to bullish ahead – UBS
FXstreet.com (Barcelona) - The UBS strategy team have taken a look at FX majors from a purely technical perspective.
They begin with EURUSD which they see as bullish. They note that trend indicators are bullish and there is scope for the pair to resume strength. They see resistance at 1.2973 ahead of 1.3127. They see support at 1.2840. Looking to USDJPY, they continue with the bullish theme and highlight that focus is on resistance at 82.84 and a break above would open the door to 83.30. They see support lies ahead at 82.18 and 81.69.
Moving onto a neutral foot, they note that near term resistance for GBPUSD can be found at 1.6061, a break above would expose 1.6131/75 and support lies at 1.5980/44. Finally, USDCHF holds bearish omen. They note that key resistance is at 0.9409 and while this holds the pair looks vulnerable. They see key support at 0.9320 ahead of 0.9215.
They begin with EURUSD which they see as bullish. They note that trend indicators are bullish and there is scope for the pair to resume strength. They see resistance at 1.2973 ahead of 1.3127. They see support at 1.2840. Looking to USDJPY, they continue with the bullish theme and highlight that focus is on resistance at 82.84 and a break above would open the door to 83.30. They see support lies ahead at 82.18 and 81.69.
Moving onto a neutral foot, they note that near term resistance for GBPUSD can be found at 1.6061, a break above would expose 1.6131/75 and support lies at 1.5980/44. Finally, USDCHF holds bearish omen. They note that key resistance is at 0.9409 and while this holds the pair looks vulnerable. They see key support at 0.9320 ahead of 0.9215.
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