7 Aug 2013
Flash: EUR/USD scope for 1.3417 – UBS
FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses.
Key quotes
“With the EUR/USD bull trend intact, as reflected by the MACD above its zero line potential is for the pair to move above 1.3345 to test the key resistance at 1.3417. Support is at 1.3233 ahead of the critical 1.3120, suggesting a bullish outlook.”
In terms of the EUR/CHF, “With the trending and momentum pointing lower potential remains for further downside. Support is at 1.2268 ahead of 1.2219. Upside should be limited with a strong resistance is at 1.2348.”
Moving to the EUR/GBP, “Following the test of critical support at 0.8628, the cross advanced. Potential is for a move above 0.8694 to test the critical resistance at 0.8815.” Finally, concerning the EUR/JPY, “With the MACD still above the zero line, the risk is for further upside. Resistance is at 133.80. Any downside will again be held by strong support at 128.86.”
Key quotes
“With the EUR/USD bull trend intact, as reflected by the MACD above its zero line potential is for the pair to move above 1.3345 to test the key resistance at 1.3417. Support is at 1.3233 ahead of the critical 1.3120, suggesting a bullish outlook.”
In terms of the EUR/CHF, “With the trending and momentum pointing lower potential remains for further downside. Support is at 1.2268 ahead of 1.2219. Upside should be limited with a strong resistance is at 1.2348.”
Moving to the EUR/GBP, “Following the test of critical support at 0.8628, the cross advanced. Potential is for a move above 0.8694 to test the critical resistance at 0.8815.” Finally, concerning the EUR/JPY, “With the MACD still above the zero line, the risk is for further upside. Resistance is at 133.80. Any downside will again be held by strong support at 128.86.”