Forex Flash: EUR crosses maintain neutrality – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.

In particular, the EUR/USD maintains a neutral outlook, as there is a strong resistance at 1.3115. Meanwhile, a closing break above this would extend the recovery to 1.3228. Support is at 1.3005 ahead of 1.2924. In terms of the EUR/CHF, resistance is at 1.2230, while there is a significant support at 1.2120 – only a break below this would be a major bearish development.

Moving to the EUR/GBP, neutrality also reigns, as resistance is at 0.8602 ahead of 0.8648, and conversely support is at 0.8463 ahead of 0.8410. The lone exception to this is the EUR/JPY, which they suggest is bullish in the near-term. Indeed, trending indicators are firmly bullish, as there is scope for test of critical resistance at 132.05 and then 134.48. Support is at 128.44 ahead of 126.76.

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.

RELATED TOPICS