29 Jul 2013
Flash: EUR/USD bull trend persists – UBS
FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses.
Key quotes
“As the EUR/USD bull trend persists, indicated by the trending and momentum indicators pointing higher, focus is on further upside. Key resistance is at 1.3417. Support is at 1.3253 ahead of 1.3166, suggesting a bullish outlook” the analysts note.
“In terms of the EUR/CHF, There is a strong support at 1.2313; a closing break below this would be negative. Resistance is at 1.2350.”
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, “Weakness since last week, stalled just above the critical support at 129.77. With the MACD still above the zero line, the risk is for the resumption of upside. Resistance is at 132.74.”
Key quotes
“As the EUR/USD bull trend persists, indicated by the trending and momentum indicators pointing higher, focus is on further upside. Key resistance is at 1.3417. Support is at 1.3253 ahead of 1.3166, suggesting a bullish outlook” the analysts note.
“In terms of the EUR/CHF, There is a strong support at 1.2313; a closing break below this would be negative. Resistance is at 1.2350.”
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, “Weakness since last week, stalled just above the critical support at 129.77. With the MACD still above the zero line, the risk is for the resumption of upside. Resistance is at 132.74.”