Forex Flash: Mixed technical outlook for Majors - UBS
FXstreet.com (Barcelona) - The UBS strategy team have taken a look at FX majors from a technical perspective and note that there is a mixed to bullish bias ahead.
They are bullish on EURUSD and note that the support offered by 1.2876 prompted a bounce overnight. The resistance focus is on 1.3023 and a break above would expose a move to 1.3140/72. Looking to USDJPY, they are bullish again and note that as trend indicators are bullish, any setback should be limited and key support at 81.65/40 should hold in the short term. They see resistance at 82.40 ahead of 82.84. The team are neutral on GBPUSD and note that resistance is at 1.6069 ahead of 1.6126 and the important support zone is at 1.5942/16. Finally, looking to USDCHF the team are bearish and note that the pair failed from resistance at 0.9353 and the subsequent sell off targets 0.9254, with a break below opening up a move to 0.9215.
They are bullish on EURUSD and note that the support offered by 1.2876 prompted a bounce overnight. The resistance focus is on 1.3023 and a break above would expose a move to 1.3140/72. Looking to USDJPY, they are bullish again and note that as trend indicators are bullish, any setback should be limited and key support at 81.65/40 should hold in the short term. They see resistance at 82.40 ahead of 82.84. The team are neutral on GBPUSD and note that resistance is at 1.6069 ahead of 1.6126 and the important support zone is at 1.5942/16. Finally, looking to USDCHF the team are bearish and note that the pair failed from resistance at 0.9353 and the subsequent sell off targets 0.9254, with a break below opening up a move to 0.9215.
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