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Trading news
26 Apr 2013
Forex Flash: FX majors look to edge higher – 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, as long as support at 97.85 holds, there’s scope for extension of the broader bull trend. Resistance is at the psychological 100.00, a break above this would be positive, opening 101.45. As for the GBP/USD, “Having closed above 1.5424, the risk is for further upside in the near-term as the trending indicators are bullish. The next major resistance is at 1.5606, while support is at 1.5265.” Finally, regarding the USD/CHF, Initial resistance is at 0.9499, a break above which would open 0.9567 – support is at 0.9387, a move below would expose 0.9319.
Beginning with the USD/JPY, as long as support at 97.85 holds, there’s scope for extension of the broader bull trend. Resistance is at the psychological 100.00, a break above this would be positive, opening 101.45. As for the GBP/USD, “Having closed above 1.5424, the risk is for further upside in the near-term as the trending indicators are bullish. The next major resistance is at 1.5606, while support is at 1.5265.” Finally, regarding the USD/CHF, Initial resistance is at 0.9499, a break above which would open 0.9567 – support is at 0.9387, a move below would expose 0.9319.