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17 May 2013
Flash: Full steam ahead with FX majors – 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. Support is at 101.26, though bullishness prevails. As for the GBP/USD, “Support is at 1.5174 and 1.5128; a closing break below the latter would be negative as it would confirm MACD settling below its zero line, extending weakness to 1.5034. Resistance is at 1.5339 ahead of 1.5390, suggesting a neutral near-term outlook.”
Finally, regarding the USD/CHF, as long as support at 0.9557 holds, there is scope for resumption of upside. Resistance is at 0.9748, a break above would open 0.9810 and then 0.9972.
Beginning with the USD/JPY, with the broader bull trend in place, the next major resistance focus is at 105.60. Support is at 101.26, though bullishness prevails. As for the GBP/USD, “Support is at 1.5174 and 1.5128; a closing break below the latter would be negative as it would confirm MACD settling below its zero line, extending weakness to 1.5034. Resistance is at 1.5339 ahead of 1.5390, suggesting a neutral near-term outlook.”
Finally, regarding the USD/CHF, as long as support at 0.9557 holds, there is scope for resumption of upside. Resistance is at 0.9748, a break above would open 0.9810 and then 0.9972.