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22 May 2013
Flash: FX generally upbeat in short-term – 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. As for the GBP/USD, “The pair sold off sharply to test support at 1.5128 yesterday. There is scope for more downside in the near-term. Next support is at 1.5034 ahead of 1.4832. Resistance is at 1.5322, suggesting a neutral near-term outlook.”
Finally, regarding the USD/CHF, with bullish trending indicators in place, focus is on resistance at 0.9761, a break above this would open 0.9810 and then 0.9972. Support is at 0.9637 ahead of 0.9578.
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. As for the GBP/USD, “The pair sold off sharply to test support at 1.5128 yesterday. There is scope for more downside in the near-term. Next support is at 1.5034 ahead of 1.4832. Resistance is at 1.5322, suggesting a neutral near-term outlook.”
Finally, regarding the USD/CHF, with bullish trending indicators in place, focus is on resistance at 0.9761, a break above this would open 0.9810 and then 0.9972. Support is at 0.9637 ahead of 0.9578.