11 Nov 2013
Flash: EUR remains mixed vs. majors – UBS
FXstreet.com (Edinburgh) -Strategists at the Swiss bank UBS argued the shared currency remains mixed against its peers after the ECB rate cut from last week.
Key quotes
Regarding the EUR/CHF, analysts remain neutral, adding, “Resistance is at 1.2338 ahead of 1.2376. Support is at 1.2277 ahead of 1.2215”.
The stance is bearish for the EUR/GBP: “The cross is consolidating, unwinding the recent sharp sell-off. As bearish conditions persist, resistance should hold at 0.8409. Support is at 0.8324 ahead of 0.8285”.
On the other side, they keep a bullish outlook on the EUR/JPY, suggesting, “The latest weakness does not change the bullish picture as long as support holds at 131.15. There’s potential for resumption of strength to resistance at 133.73 ahead of 135.51”.
Key quotes
Regarding the EUR/CHF, analysts remain neutral, adding, “Resistance is at 1.2338 ahead of 1.2376. Support is at 1.2277 ahead of 1.2215”.
The stance is bearish for the EUR/GBP: “The cross is consolidating, unwinding the recent sharp sell-off. As bearish conditions persist, resistance should hold at 0.8409. Support is at 0.8324 ahead of 0.8285”.
On the other side, they keep a bullish outlook on the EUR/JPY, suggesting, “The latest weakness does not change the bullish picture as long as support holds at 131.15. There’s potential for resumption of strength to resistance at 133.73 ahead of 135.51”.