Forex Flash: What to do with EUR/USD? – Commerzbank and UBS
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EUR/USD
FXstreet.com (Barcelona) - The bloc currency is now transiting session lows in the proximities of 1.3280, while UK's PM D.Cameron is giving a speech, where according to analysts, he would promote the idea of an "in-out referendum" in the UK regarding its belongingness to the European Union.
"The market is sidelined in its tight range 1.3250-1.3400. While above 1.3250 an upside bias is maintained. Above 1.3405 we look for gains towards tough long-term resistance at 1.3485/1.3560", suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
According to UBS's strategists G.Yu and G.Berry, "Resistance is at 1.3404, a break above this would signal the end of the choppy activity, opening the way to 1.3493. Support lies at 1.3249 ahead of 1.3201".
"The market is sidelined in its tight range 1.3250-1.3400. While above 1.3250 an upside bias is maintained. Above 1.3405 we look for gains towards tough long-term resistance at 1.3485/1.3560", suggested Karen Jones, Head of FICC Technical Analysis at Commerzbank.
According to UBS's strategists G.Yu and G.Berry, "Resistance is at 1.3404, a break above this would signal the end of the choppy activity, opening the way to 1.3493. Support lies at 1.3249 ahead of 1.3201".
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