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Forex Flash: EUR/USD maintains outlook – UBS

FXstreet.com (Barcelona) - UBS Strategists, Gareth Berry and Geoffrey Yu take a technical perspective at today's EUR crosses and note that there is a generally neutral-trending bias ahead.

In particular, the EUR/USD maintains a neutral outlook – initial support is at 1.3033, a break below this would expose 1.2995 and then 1.2936. Resistance is at 1.3159 ahead of 1.3243. In terms of the EUR/CHF, Resistance is at 1.2349, a break above would be a bullish development, opening the way to 1.2398. Meanwhile, support is at 1.2255, suggesting a bullish intraday view.

Moving to the EUR/GBP, support is at 0.8389; a break here would extend the weakness to 0.8287 – resistance is at 0.8498. The EUR/JPY is bullish in the near-term; resistance is at 131.12, a break above which would open 132.05 and then 134.38, while support is at 127.06.

Forex Flash: EUR/AUD supportive in the long term – ANZ

“Based on that outlook the time is ripe to unwind short-term exposures. That being said, fundamental underpinnings remain supportive for longer-term strength in the EUR/AUD.” notes FX Strategist Andrew Salter at ANZ. The flip side to devastatingly high euro zone unemployment rates are moderating unit labor costs and increased productivity. Current account balances are reflecting this increase in competitiveness.
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Forex: GBP/USD extends advance and tests 1.5590

The Sterling is trading higher today against the Greenback and after jumping 70 pips in the latest couple of hours from 1.5520, the GBP/USD has risen to break above the 1.5545 resistance and to test the highest level since May 5th at 1.5590.
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