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16 Aug 2013
Flash: EUR/USD targets 1.3417 resistance with bullishness intact – UBS
FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses.
Key quotes
“With bullish conditions in place, the EUR/USD has its first resistance focus at 1.3417, a break above which would open 1.3520. Support is at 1.3206 ahead of 1.3154, suggesting a bullish outlook.”
In terms of the EUR/CHF, “With the MACD threatening to cross above its zero line, the risk is for more upside. Resistance is at 1.2466/85. Support is at 1.2331 ahead of 1.2268.”
Moving to the EUR/GBP, “The cross closed below 0.8540 and this is a bearish trigger, indicating scope for a move 0.8469 and test the important support at 0.8398. Resistance sis at 0.8569 ahead of 0.8610.”
Key quotes
“With bullish conditions in place, the EUR/USD has its first resistance focus at 1.3417, a break above which would open 1.3520. Support is at 1.3206 ahead of 1.3154, suggesting a bullish outlook.”
In terms of the EUR/CHF, “With the MACD threatening to cross above its zero line, the risk is for more upside. Resistance is at 1.2466/85. Support is at 1.2331 ahead of 1.2268.”
Moving to the EUR/GBP, “The cross closed below 0.8540 and this is a bearish trigger, indicating scope for a move 0.8469 and test the important support at 0.8398. Resistance sis at 0.8569 ahead of 0.8610.”