2 Sep 2013
Flash: EUR/USD crucial support exposed, retracement to 1.2900 expected? – UBS
FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses.
Key quotes
“Important support at 1.3186 was tested on Friday, and a close below this would be negative, exposing 1.3103 and then 1.3021. Resistance is at 1.3280 ahead of 1.3346, suggesting a neutral outlook.”
In terms of the EUR/CHF, “Support is at 1.2268, a break below which would expose 1.2219. Resistance is at 1.2363 ahead of 1.2434.”
Moving to the EUR/GBP, “The cross is under selling pressure and all evidence suggests more weakness to test the important support at 0.8398. Resistance is at 0.8553, suggesting a bearish outlook.”
Key quotes
“Important support at 1.3186 was tested on Friday, and a close below this would be negative, exposing 1.3103 and then 1.3021. Resistance is at 1.3280 ahead of 1.3346, suggesting a neutral outlook.”
In terms of the EUR/CHF, “Support is at 1.2268, a break below which would expose 1.2219. Resistance is at 1.2363 ahead of 1.2434.”
Moving to the EUR/GBP, “The cross is under selling pressure and all evidence suggests more weakness to test the important support at 0.8398. Resistance is at 0.8553, suggesting a bearish outlook.”