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Forex Flash: EUR crosses remain bullish – 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 bullish outlook, as there is a strong resistance at 1.3228 – a breach of which would open 1.3342, while support is at 1.3022. In terms of the EUR/CHF, resistance is at 1.2173, then 1.2213 – 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, there is a bullish bias as resistance is at 0.8602, a break above this would extend the strength to test critical resistance at 0.8648. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 132.05, a break above this would expose 134.38, while support is at 124.94.

Euro capped at 1.3200 for now

The bloc currency is extending its march north in the present week, following yesterday’s pronounced up-move to the key mark at 1.3200, printing 6-week highs at the same time. However, is seems...
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