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Forex Flash: EUR crosses look mixed ahead - UBS

FXstreet.com (Barcelona) - UBS Strategists Gareth Berry and Geoffrey Yu have taken a technical look at today EUR crosses and are mixed in outlook ahead.

Starting with EUR/CHF, they are bullish and note that there is scope for more upside as bullish trend persists. They see resistance is at 1.2312 ahead of 1.2349 and support at 1.2240 and 1.2214. They are bearish EUR/GBP, noting that the cross is testing important support at 0.8410. They feel that a closing break below would be a strong bearish development; triggering deeper sell-off to 0.8285. They see resistance is at 0.8489 ahead of 0.8546. Finally, they are neutral EUR/JPY and note that resistance is at 129.91 ahead of 131.12. They write, “Initial support is at 126.44, a move below would signal scope for further correction to the strong support at 124.94.”

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Forex: USD/JPY bounces after retesting yesterday’s low at 97.36

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