OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: USD strength easing on majors - UBS

FXstreet.com (Barcelona) - UBS Strategists Gareth Berry and Geoffrey Yu have taken a look at today´s majors from a technical perspective and note that last week´s USD strength looks to be easing.

They begin with EUR/USD and note that they are bearish, commenting that the broader picture is still bearish and upside should be limited, with resistance at 1.3048 and then 1.3115, with support at 1.2858, ahead of 1.2746. Moving to USD/JPY they are bullish, noting that the sharp rally extended this morning and is approaching important resistance at 99.850. They feel that a break above would open 101.45. They see support at 95.77. For GBP/USD, they are neutral, commenting that important resistance is at 1.5424, and a closing break above this would extend the recovery to 1.5606. They see support at 1.5200 ahead of 1.5034. Finally, looking to USD/CHF, they are neutral, commenting that critical support is at 0.9230 and a break below would expose 0.9150. They see resistance at 0.9434 ahead of 0.9567.

Forex Flash: JPY Position Squaring Ahead of the BOJ - Nomura

Nomura strategists note that the notable spec position changes were selling of EUR and buying of JPY, the latter of which was likely position squaring ahead of the important BOJ meeting later in the week.
Read more Previous

Forex Flash: Disappoint NFP fail to dent global risk appetite measurably - OCBC Bank

Emmanuel Ng of OCBC Bank notes that the disappointing March US NFP numbers on Friday boosted EUR/USD higher above 1.3000, although the weak numbers failed to dent global risk appetite levels measurably.
Read more Next
Start livechat