6 Jun 2013
Flash: EUR/USD sees scope for extension towards 1.3194 – 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.
“The latest EUR/USD strength suggests scope for extension of the strength to 1.3194 and then 1.3243. Support is at 1.2956 ahead of 1.2797” the analysts note. In terms of the EUR/CHF, support is at 1.2283, a break below would expose 1.2196 –resistance is at 1.2413 ahead of 1.2487.
Moving to the EUR/GBP, the latest weakness is approaching support at 0.8475, a break below this would open 0.8421 and then 0.8398, while resistance is at 0.8559 ahead of 0.8607. Finally, concerning the EUR/JPY, the recent weakness suggests scope for extension of the correction. There is main support at 128.19. Resistance is at 132.08 ahead of 133.80.”
“The latest EUR/USD strength suggests scope for extension of the strength to 1.3194 and then 1.3243. Support is at 1.2956 ahead of 1.2797” the analysts note. In terms of the EUR/CHF, support is at 1.2283, a break below would expose 1.2196 –resistance is at 1.2413 ahead of 1.2487.
Moving to the EUR/GBP, the latest weakness is approaching support at 0.8475, a break below this would open 0.8421 and then 0.8398, while resistance is at 0.8559 ahead of 0.8607. Finally, concerning the EUR/JPY, the recent weakness suggests scope for extension of the correction. There is main support at 128.19. Resistance is at 132.08 ahead of 133.80.”