OctaFX | OctaFX Forex Broker
Open trading account
Back

Forex Flash: EUR/USD maintains neutral 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 – having tested support at 1.2974, there’s scope for a move to next support at 1.2920, a break below which would be a bearish development, triggering deeper sell-off to 1.2746. Resistance is at 1.3084 ahead of 1.3202. In terms of the EUR/CHF, the latest strength signal potential for a test of resistance at 1.2336 ahead of 1.2391. Support is at 1.2236 ahead of 1.2191, suggesting a bullish intraday view.

Moving to the EUR/GBP, there is a neutral bias, as support is at 0.8497 ahead of 0.8463 – resistance is at 0.8590 ahead of 0.8648. The EUR/JPY is also bullish in the near-term. Indeed, as long as support at 127.82 holds, there is potential for the cross to extend its broader strength. Resistance is at 132.05 ahead of 134.38.

Forex Flash: AUD/NZD hit - Societe Generale

Alvin Tan, FX Strategist at Societe Generale notes that AUD/NZD has been hit as the RBNZ kept on hold at 2.5% as expected.
Read more Previous

US EIA Crude Oil Stocks change rises to 0.947M in Apr 19 from -1.233M

Read more Next
Start livechat