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16 Apr 2013
Forex Flash: Majors outline checkered outlook – UBS
FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's majors and outline the technical positions.
Beginning the USD/JPY in the aftermath of Kuroda, the pair remains bullish, despite the fact that the latest setback is correction to unwind the overextended upside conditions. Support at 97.13 should hold, while resistance is pegged at 100 ahead of 101.45. As for the GBP/USD, neutrality is the near-term outlook with critical resistance is at 1.5424 and support is at 1.5268 ahead of 1.5178.
Finally, regarding the USD/CHF, the analysts maintain a neutral perspective as well, as there is a main support at 0.9230 – only a closing breach here would be a strong bearish development. Resistance is at 0.9340 ahead of 0.9375.
Beginning the USD/JPY in the aftermath of Kuroda, the pair remains bullish, despite the fact that the latest setback is correction to unwind the overextended upside conditions. Support at 97.13 should hold, while resistance is pegged at 100 ahead of 101.45. As for the GBP/USD, neutrality is the near-term outlook with critical resistance is at 1.5424 and support is at 1.5268 ahead of 1.5178.
Finally, regarding the USD/CHF, the analysts maintain a neutral perspective as well, as there is a main support at 0.9230 – only a closing breach here would be a strong bearish development. Resistance is at 0.9340 ahead of 0.9375.