7 Jun 2013
Flash: What does the EUR/USD have to offer? – UBS and Commerzbank
FXstreet.com (Barcelona) - The EUR/USD is now easing to the 1.3235/40 region on Friday, in a context where caution amongst traders and lack of volatility prevail ahead of the US Payrolls.
Strategists G.Yu and G.Berry at UBS commented, “Yesterday's strength confirmed the MACD settle above its zero line, the next resistance focus is at 1.3342. A break above which would open 1.3434. Support is at 1.3112”. It is worth noting that the Swiss lender updated its outlook on the pair to bullish from neutral.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank suggested, “The market has been stronger than we anticipated but it is not enough to dislodge our longer term bearish view. Above 1.3340 lies 1.3462/68, the 200-week ma and the 2011-2013 resistance line, we look for this to hold and provoke failure”.
Strategists G.Yu and G.Berry at UBS commented, “Yesterday's strength confirmed the MACD settle above its zero line, the next resistance focus is at 1.3342. A break above which would open 1.3434. Support is at 1.3112”. It is worth noting that the Swiss lender updated its outlook on the pair to bullish from neutral.
In addition, Karen Jones, Head of FICC Technical Analysis at Commerzbank suggested, “The market has been stronger than we anticipated but it is not enough to dislodge our longer term bearish view. Above 1.3340 lies 1.3462/68, the 200-week ma and the 2011-2013 resistance line, we look for this to hold and provoke failure”.