4 Nov 2013
Flash: EUR mostly neutral vs. majors – UBS
FXstreet.com (Edinburgh) -Strategists at the Swiss lender UBS argued the EUR’s outlook against its major peers remains mostly neutral ahead of the ECB meeting due on Thursday.
Key quotes
Regarding the EUR/GBP, they keep the neutral stance adding at the same time “Support is at 0.8429, a break through which would trigger a deeper sell-off to 08333. Resistance is at 0.8515 ahead of 0.8603”.
Same outlook for the EUR/CHF: “Resistance is at 1.2376 ahead of 1.2415. Support is at 1.2277 ahead of 1.2215”.
And finally, they hold a bullish bias on the EUR/JPY, arguing, “The latest weakness was staged from the resistance at 135.51. There is a strong support at 131.15. While this holds, the potential is for resumption of strength”.
Key quotes
Regarding the EUR/GBP, they keep the neutral stance adding at the same time “Support is at 0.8429, a break through which would trigger a deeper sell-off to 08333. Resistance is at 0.8515 ahead of 0.8603”.
Same outlook for the EUR/CHF: “Resistance is at 1.2376 ahead of 1.2415. Support is at 1.2277 ahead of 1.2215”.
And finally, they hold a bullish bias on the EUR/JPY, arguing, “The latest weakness was staged from the resistance at 135.51. There is a strong support at 131.15. While this holds, the potential is for resumption of strength”.