25 Jul 2013
Flash: EUR/USD trends higher with focus on upside – 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 trending and momentum indicators pointing higher, the focus is on further upside for the EUR/USD. Key resistance is at 1.3417. Support is at 1.3134 ahead of 1.3052, suggesting a bullish outlook.” the analysts note.
“In terms of the EUR/CHF, initial resistance is at 1.22404 ahead of the critical 1.2485. A closing break above this would be positive, opening 1.2650. Downside should be limited, with support at 1.2342, which is expected to hold on closing basis.”
Moving to the EUR/GBP, “The cross bounced from the support at 0.8570. With the MACD above its zero line, focus is on upside towards 0.8711 and then, 0.8815.” Finally, concerning the EUR/JPY, “We look for further upside towards the key resistance at 133.80. A move above this would open 137.14. Initial support is at 130.77 ahead of 128.02.”
Key quotes
“With the trending and momentum indicators pointing higher, the focus is on further upside for the EUR/USD. Key resistance is at 1.3417. Support is at 1.3134 ahead of 1.3052, suggesting a bullish outlook.” the analysts note.
“In terms of the EUR/CHF, initial resistance is at 1.22404 ahead of the critical 1.2485. A closing break above this would be positive, opening 1.2650. Downside should be limited, with support at 1.2342, which is expected to hold on closing basis.”
Moving to the EUR/GBP, “The cross bounced from the support at 0.8570. With the MACD above its zero line, focus is on upside towards 0.8711 and then, 0.8815.” Finally, concerning the EUR/JPY, “We look for further upside towards the key resistance at 133.80. A move above this would open 137.14. Initial support is at 130.77 ahead of 128.02.”