21 Nov 2013
Flash: EUR outlook different vs. majors – UBS
FXstreet.com (Edinburgh) - Strategists at the Swiss lender UBS have different outlooks on the single currency against its major competitors.
Key Quotes
Regarding the EUR/CHF, the bias is neutral: “There is strong resistance at 1.2376, a breach of which would open 1.2415. Support is at 1.2277 ahead of 1.2215”.
In the case of the EUR/GBP, the perspective remains bearish, adding “The momentum tools confirmed crossing lower reinforcing the bearish theme, opening the doors to the critical support area at 0.8301 and 0.8285. Resistance is at 0.8415”.
And finally, the outlook on the EUR/JPY is bullish, suggesting that “initial resistance is at 135.95, a break above this level would open 138.49. Any downside will be corrective and limited to support at 133.03”.
Key Quotes
Regarding the EUR/CHF, the bias is neutral: “There is strong resistance at 1.2376, a breach of which would open 1.2415. Support is at 1.2277 ahead of 1.2215”.
In the case of the EUR/GBP, the perspective remains bearish, adding “The momentum tools confirmed crossing lower reinforcing the bearish theme, opening the doors to the critical support area at 0.8301 and 0.8285. Resistance is at 0.8415”.
And finally, the outlook on the EUR/JPY is bullish, suggesting that “initial resistance is at 135.95, a break above this level would open 138.49. Any downside will be corrective and limited to support at 133.03”.