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19 Jun 2013
Flash: What does the EUR/USD have to offer? – UBS and Commerzbank
FXstreet.com (Edinburgh) - The shared currency keeps the positive tone on Wednesday, posting marginal gains in the proximities of 1.3400 the figure. Market participants are expected to remain in the sidelines ahead of the FOMC statement and subsequent press conference by Chairman Bernanke due this evening.
G.Berry and G.Yu, Strategists at the Swiss lender UBS, keep the bullish outlook on the pair, noting at the same time “The pair posted a new high and is approaching the resistance at 1.3520 ahead of 1.3711. Support is at 1.3319”.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented, “EUR/USD charted a minor new high, this was not confirmed by the daily RSI and directly overhead lies 1.3440/52, the 200 week ma and the 2011-2013 resistance line. This is key resistance and we look for this to hold and provoke failure”.
G.Berry and G.Yu, Strategists at the Swiss lender UBS, keep the bullish outlook on the pair, noting at the same time “The pair posted a new high and is approaching the resistance at 1.3520 ahead of 1.3711. Support is at 1.3319”.
Furthermore, Karen Jones, Head of FICC Technical Analysis at Commerzbank, commented, “EUR/USD charted a minor new high, this was not confirmed by the daily RSI and directly overhead lies 1.3440/52, the 200 week ma and the 2011-2013 resistance line. This is key resistance and we look for this to hold and provoke failure”.