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Trading news
9 Apr 2013
Forex Flash: EUR crosses hold neutral bias - UBS
FXstreet.com (Barcelona) - UBS strategist, Gareth Berry and Geoffrey Yu have taken a technical look at today's EUR crosses and note that there is a neutral bias ahead.
Starting with EUR/CHF, they are neutral, commenting that there is significant support at 1.2120 and a break below this would be a major bearish development. They see resistance at 1.2230. They are neutral EUR/GBP too, adding that Resistance is at 0.8602 ahead of 0.8648 and support is at 0.8463 ahead of 0.8410. Finally, EUR/JPY, they are bullish, noting that the cross posted a new recovery high this morning and there is scope for a test of critical resistance at 132.05, with support at 126.76.
Starting with EUR/CHF, they are neutral, commenting that there is significant support at 1.2120 and a break below this would be a major bearish development. They see resistance at 1.2230. They are neutral EUR/GBP too, adding that Resistance is at 0.8602 ahead of 0.8648 and support is at 0.8463 ahead of 0.8410. Finally, EUR/JPY, they are bullish, noting that the cross posted a new recovery high this morning and there is scope for a test of critical resistance at 132.05, with support at 126.76.