Forex Flash: FX Majors hold technical bullish bias ahead – UBS (Barcelona) - UBS Strategists have taken a look at today´s FX Majors from a purely technical perspective.

They start with EUR/USD and state their bullish outlook. They believe that the pair is approaching significant resistance at 1.3140/72 and a break above would extend the broader recovery phase to 1.3284 with support being found below at 1.3046. Looking to GBP/USD, they are again bullish and note that the recent strength suggests that there is potential for a test of resistance at 1.6175 and then 1.6217 with support lying at 1.6016.

The team rounds off their bullish outlooks with USD/JPY. They see support at 81.69 has prompted a bounce and the recovery targets resistance at 82.24 with the next resistance at 83.30. Finally, last but not least comes USD/CHF. The team have a bearish outlook and note that focus is on support at 0.9215, with a break below exposing 0.9041. They note that resistance ahead can be found at 0.9304 and 0.9341 respectively.