Back
17 Jun 2013
Flash: What does the EUR/USD have to offer? – UBS and Commerzbank
FXstreet.com (Edinburgh) - The EUR/USD is extending Friday’s decline, although the pair seems quite well supported in the vicinity of 1.3320 so far. A congestion pattern is expected to prevail ahead of Wednesday’s FOMC gathering, where traders would be looking for hints regarding any scaling back of the current stimulus programme.
According to Strategists G.Yu y G.Berry at UBS, “With the MACD above its zero line, the potential is for further upside. Resistance is at 1.3390 ahead of 1.3520. Support is at 1.3266”. It is worth noting that the Swiss bank remains bullish on the pair.
Karen Jones, Head of FICC Technical Strategist at Commerzbank, suggested, “We will need a break below the accelerated uptrend at 1.3348 and preferably below June 10th low at 1.3177 in order to alleviate immediate upside pressure”.
According to Strategists G.Yu y G.Berry at UBS, “With the MACD above its zero line, the potential is for further upside. Resistance is at 1.3390 ahead of 1.3520. Support is at 1.3266”. It is worth noting that the Swiss bank remains bullish on the pair.
Karen Jones, Head of FICC Technical Strategist at Commerzbank, suggested, “We will need a break below the accelerated uptrend at 1.3348 and preferably below June 10th low at 1.3177 in order to alleviate immediate upside pressure”.