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Flash: EUR/USD faces bearish outlook below 1.3020 – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.

As long as resistance holds at 1.3020 for the EUR/USD, there is scope for the pair to resume downside as bearish trend conditions persist. Support is at 1.2838 ahead of 1.2746. indicating a bearish outlook. In terms of the EUR/CHF, There is scope for resumption of upside as bull trend persists. Resistance is at 1.2573 ahead of 1.2661 – support is at 1.2407 ahead of 1.2370.

Moving to the EUR/GBP, There is an important resistance at 0.8607. A break above which would extend the strength to 0.8656. Support is at 0.8498 and 0.8474, suggesting a neutral intraday view. Finally, concerning the EUR/JPY, Focus is on the momentum tools as a closing cross higher would end the recent consolidation phase and resume the broader bull trend. Resistance is at 132.34 ahead of 134.38, while, support is at 129.97 ahead of 128.19.

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