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26 Jun 2013
Flash: EUR Technical crosses hold neutral bias - UBS
FXstreet.com (Barcelona) - UBS strategists, Gareth Berry and Geoffrey Yu have taken a technical look at today´s EUR Technical crosses and see a neutral bias ahead.
Starting with EUR/CHF they are bearish, commenting that they see support at 1.2196, and a breach here would open the door to the significant 1.2120 level. Further, they see resistance at 1.2308 ahead of 1.2364. Moving to EUR/GBP, they are neutral, noting that strong support at 0.8475 was tested again yesterday. They see that a closing break below this would be negative opening 0.8398, and resistance is at 0.8542 ahead of the strong resistance 0.8607. Finally, they move to EUR/JPY and are again neutral. They write, “Resistance at 130.43 holds the upside move. A break above this would open 133.80. Support is at 127.06 ahead of 124.72.”
Starting with EUR/CHF they are bearish, commenting that they see support at 1.2196, and a breach here would open the door to the significant 1.2120 level. Further, they see resistance at 1.2308 ahead of 1.2364. Moving to EUR/GBP, they are neutral, noting that strong support at 0.8475 was tested again yesterday. They see that a closing break below this would be negative opening 0.8398, and resistance is at 0.8542 ahead of the strong resistance 0.8607. Finally, they move to EUR/JPY and are again neutral. They write, “Resistance at 130.43 holds the upside move. A break above this would open 133.80. Support is at 127.06 ahead of 124.72.”