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Forex Flash: EUR crosses characterized by neutral intraday-term outlook – 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.

In particular, the EUR/USD maintains a neutral outlook, as there is a strong resistance at 1.3138 onto 1.3228. Conversely, support lies at 1.2988 ahead of 1.2896. In terms of the EUR/CHF, resistance is at 1.2230, ahead of 1.2260 – while there is a significant support at 1.2120 as only a break below this would be a major bearish development, suggesting a neutral intraday view.

Moving to the EUR/GBP, neutrality also reigns –the cross is unwinding the sharp sell-off of March. Resistance is at 0.8560 ahead of 0.8602, while support is at 0.8463 ahead of 0.8410. The lone exception to this sideways trend is the EUR/JPY, as the pair is bullish in the near-term. Indeed, as long as support at 126.53 holds, there’s risk for resumption of strength. Additionally, resistance is at 132.05 ahead of 134.48.

Forex Flash: GBP/AUD unlikely to retest January highs of 1.5400 – Westpac

The GBP/AUD has been repeatedly rejected below 1.4500 and now looks set to test 1.5150 multi-week. However, “the early January highs near 1.5400 seem unlikely to be tested multi-month, as the UK economy continues to struggle and incoming BoE governor Carney is likely to be open to bold new monetary measures.” notes Sean Callow, an FX Strategist at Westpac.
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Forex: GBP/USD hovering around 1.5300

Even though the British pound managed to move higher versus the greenback on Tuesday, it failed to decisively break above the 1.5330 area and was confined to a range. GBP/USD has spent most of the day between 1.5270/1.5330, unable to define a fresh direction.
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