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Forex Flash: EUR crosses hold bearish bias - UBS

FXstreet.com (Barcelona) - UBS strategists Gareth Berry and Geoffrey Yu have taken a technical look at this mornings EUR crosses and note a bearish bias ahead.

Starting with EUR/CHF, they are neutral, and see significant support at 1.2120, with resistance at 1.2202 ahead of 1.2255. They are bearish EUR/GBP and note that the risk is for extension of weakness to test support at 0.8362 in the near-term, a breach of which would open 0.8285. They see resistance at 0.8499 ahead of 0.8561. Finally, they note that EUR/JPY is bearish and the risk is for an extension of weakness. They write, “Focus is on critical support at 118.73, a break below would expose 116.85. Resistance is at 121.87.”

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