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Forex Flash: EUR provide alternative strategies – 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 support at 1.2974, ahead of 1.2920, meanwhile resistance lies at 1.3228. In terms of the EUR/CHF, resistance is at 1.2213, onto 1.2230 – there is a significant support at 1.2151 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 the cross came under pressure from resistance at 0.8648. A closing break above would open 0.8747, while downside should be limited and support is at 0.8497. The EUR/JPY is also bullish in the near-term. Indeed, the focus is on resistance at 132.05, though a break above this would expose 134.38. Conversely, support is at 128.06, ahead of 126.04.

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