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29 Apr 2013
Forex Flash: Majors look neutral ahead - UBS
FXstreet.com (Barcelona) - UBS Strategists Gareth Berry and Geoffrey Yu have taken a technical look at today´s majors and see that the outlook is broadly neutral ahead.
Starting with EUR/USD, they are neutral, and note that resistance is at 1.3108, and a break above this would open the more critical 1.3202 and then 1.3232. They see that support is at 1.2955 and 1.2920, and a breach here would be a bearish development. Looking to USD/JPY, they are neutral too, and note that the latest setback does not change the broader bullish picture as long as strong support at 95.80 holds. They see resistance is ahead at the psychological 100.00. Finally, they are bullish GBP/USD and note that the pair has posted a new recovery high and is approaching resistance at 1.5550. They see that the next major resistance is at 1.5606, a break above this would open 1.5689. They see support is at 1.5419 ahead of 1.5361.
Starting with EUR/USD, they are neutral, and note that resistance is at 1.3108, and a break above this would open the more critical 1.3202 and then 1.3232. They see that support is at 1.2955 and 1.2920, and a breach here would be a bearish development. Looking to USD/JPY, they are neutral too, and note that the latest setback does not change the broader bullish picture as long as strong support at 95.80 holds. They see resistance is ahead at the psychological 100.00. Finally, they are bullish GBP/USD and note that the pair has posted a new recovery high and is approaching resistance at 1.5550. They see that the next major resistance is at 1.5606, a break above this would open 1.5689. They see support is at 1.5419 ahead of 1.5361.