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15 May 2013
Forex Flash: FX majors eye bullish path – 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 with the USD/JPY, “With the broader bull trend in place, the next major resistance focus is at 105.60, while support is at 101.26. In terms of the GBP/USD, with the MACD threatening to settle below its zero line, a closing break below support at 1.5128 would be a major bearish development, extending weakness to 1.5034. Resistance is at 1.5331, suggesting a neutral near-term outlook.”
Finally, regarding the USD/CHF, initial resistance is at 0.9733, a break above this would open 0.9810 and then 0.9899, and a break lower will instigate support at 0.9521.
Beginning with the USD/JPY, “With the broader bull trend in place, the next major resistance focus is at 105.60, while support is at 101.26. In terms of the GBP/USD, with the MACD threatening to settle below its zero line, a closing break below support at 1.5128 would be a major bearish development, extending weakness to 1.5034. Resistance is at 1.5331, suggesting a neutral near-term outlook.”
Finally, regarding the USD/CHF, initial resistance is at 0.9733, a break above this would open 0.9810 and then 0.9899, and a break lower will instigate support at 0.9521.