“The pair posted a new recovery high on Friday. There is scope for more upside to test 1.0366. Support is at 1.0160”, suggested G.Yu and G.Berry, Strategists at the Swiss bank UBS.
At the moment, the cross is up 0.06% at 1..0229 with the next resistance at 1.0256 (high Feb.22) ahead of 1.0342 (high Jun.29) and then 1.0363 (high Jun.28).
On the flip side, a breakdown of 1.0113 (MA10d) would allow 1.0101 (high Jan.23) and finally 1.0055 (low Feb.18).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.