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Forex Flash: What does the EUR/USD have to offer? – UBS and Commerzbank

FXstreet.com (Barcelona) - The shared currency continues to be trapped within a narrow range on Friday, hovering over 1.3020/25 ahead of the US GDP preliminary figures for the first quarter.

Strategists G.Yu and G.Berry at UBS remain neutral on the cross, adding “Resistance is at 1.3108, a break above this would open the more critical 1.3202 and then 1.3232. Support is at 1.2955 and 1.2920 – a breach here would be a bearish development”.

After the recent unsuccessful attempt of an upside Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented “We view this as a minor rebound from the 1.2949 200 day ma. We should see failure shortly and a slide to 1.2839, the 78.6% retracement of the move up in April. This is the last defence for the 1.2740 recent low”

Forex: GBP/JPY falls to 152.21/24

The GBP/JPY has fallen off the 152.65 handle Friday, dropping over 30 pips in recent minutes to entrench itself in negative territory. In these moments, the pair is trading at just 152.21/24 during European trading.
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Forex Flash: USD/CNY looks bearish ahead - BTMU

Bank of Tokyo Mitsubishi UFJ analysts are bearish USD/CNT for the week ahead and see spot moving within a range of 6.1600 and 6.1950.
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