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12 Aug 2013
Flash: EUR/USD risk remains for short-term correction higher to 1.3417 – UBS
FXstreet.com (New York) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses.
Key quotes
“The EUR/USD risk remains for a short-term correction from the key resistance at 1.3417. Support is at 1.3270. A break above 1.3417 would be positive, suggesting a bullish outlook.”
In terms of the EUR/CHF, “With the trending and momentum pointing lower potential remains for further downside. Support is at 1.2268 ahead of 1.2219. Upside should be limited with a strong resistance is at 1.2348.”
Moving to the EUR/GBP, “There is a strong support at 0.8584, which is expected to hold like the previous time. With the bull trend intact potential is for a move above 0.8674 to test the critical resistance at 0.8815.”
Key quotes
“The EUR/USD risk remains for a short-term correction from the key resistance at 1.3417. Support is at 1.3270. A break above 1.3417 would be positive, suggesting a bullish outlook.”
In terms of the EUR/CHF, “With the trending and momentum pointing lower potential remains for further downside. Support is at 1.2268 ahead of 1.2219. Upside should be limited with a strong resistance is at 1.2348.”
Moving to the EUR/GBP, “There is a strong support at 0.8584, which is expected to hold like the previous time. With the bull trend intact potential is for a move above 0.8674 to test the critical resistance at 0.8815.”