27 Jun 2013
Flash: Majors look technically neutral - UBS
Fxstreet.com (Barcelona) - UBS Strategists Geoffrey Yu and Gareth Berry have taken a technical look at todays majors and see a largely neutral outlook ahead.
Beginning with EUR/USD, they are bearish, noting that yesterday the pair closed below the strong support at 1.3034. They feel that the risk is for further downside with next support at 1.2797. They see resistance is at 1.3151. Moving to USD/JPY, they are neutral, noting that strength since mid-June is held by the resistance at 98.76, and a break above this would open 99.94. They see support at 96.24 ahead of 93.57. Looking to GBP/USD, they are neutral, commenting that there is strong support at 1.5292, and a closing break below this would prolong the correction to 1.5183. They see resistance at 1.5477. Finally, they are neutral USD/CHF, writing, “There is a strong resistance at 0.9484; a closing break above this would be negative opening 0.9568. Support is at 0.9373 ahead of 0.9313.”
Beginning with EUR/USD, they are bearish, noting that yesterday the pair closed below the strong support at 1.3034. They feel that the risk is for further downside with next support at 1.2797. They see resistance is at 1.3151. Moving to USD/JPY, they are neutral, noting that strength since mid-June is held by the resistance at 98.76, and a break above this would open 99.94. They see support at 96.24 ahead of 93.57. Looking to GBP/USD, they are neutral, commenting that there is strong support at 1.5292, and a closing break below this would prolong the correction to 1.5183. They see resistance at 1.5477. Finally, they are neutral USD/CHF, writing, “There is a strong resistance at 0.9484; a closing break above this would be negative opening 0.9568. Support is at 0.9373 ahead of 0.9313.”