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2 May 2013
Forex Flash: FX majors poised to face mixed intraday outlook – 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, the latest setback does not change the broader bullish picture as long as strong support at 95.80 holds. Initial resistance is at 98.20 ahead of the psychological 100.00. As for the GBP/USD, “the pair posted a new recovery high and tested the critical resistance at 1.5606, a closing break above this would open 1.5689. Support is at 1.5468.” Finally, regarding the USD/CHF, there is a critical support at 0.9207 ahead of 0.9150, while near-term resistance is at 0.9310 ahead of 0.9384.
Beginning with the USD/JPY, the latest setback does not change the broader bullish picture as long as strong support at 95.80 holds. Initial resistance is at 98.20 ahead of the psychological 100.00. As for the GBP/USD, “the pair posted a new recovery high and tested the critical resistance at 1.5606, a closing break above this would open 1.5689. Support is at 1.5468.” Finally, regarding the USD/CHF, there is a critical support at 0.9207 ahead of 0.9150, while near-term resistance is at 0.9310 ahead of 0.9384.