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Forex Flash: Majors look neutral to bullish - UBS

FXstreet.com (Barcelona) - UBS Strategists Gareth Berry and Geoffrey Yu have taken a technical look at today´s majors and can see a neutral to bullish air about price outlook ahead.

Starting with EUR/USD they are neutral and note that initial support is at 1.3033 and a break of this would expose 1.2995 ahead of 1.2936, with resistance at 1.3159 ahead of 1.3243. Moving to USD/JPY they are bullish and note that with the broader bull trend in place, any downside will be limited. They see support at 97.90 ahead of 97.01 and note that important resistance is at 99.95 ahead of 101.45. They are bullish GBP/USD and note that critical resistance is at 1.5606, and a closing break above this would be positive, opening the way to 1.5689 and 1.5789. They see support at 1.5481 ahead of 1.5402. Finally, looking to USD/CHF, they are neutral, commenting, “The latest strength is approaching resistance at 0.9403, a break above which would open the way to 0.9499. Support is at 0.9338 ahead of 0.9247.”

Forex: EUR/CHF retraces losses on European opening

With 1.2255 holding against further downside, the EUR/CHF retraced losses on the European opening to 1.2269 since the publication of French data and then Swiss foreign currency reserves report. This bouncing movement allowed a return to the weekly opening at 1.2268. On the upside, yesterday moves were capped at 1.2291 high.
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Forex Flash: RBA easing weighs upon Australian dollar - BTMU

Lee Hardman, FX analyst at the Bank of Tokyo Mitsubishi UFJ notes that the Australian dollar has weakened overnight following the RBA´s unexpected decision to ease policy at today´s meeting, with AUD/USD and NZD/USD testing key support levels at 1.02 and 1.20 respectively.
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