UBS update

EURUSD BEARISH
The recent strength does not change the broader bearish picture and the risk is 
for resumption of downside. Resistance is at 1.3073 ahead of 1.3194. Support is 
at 1.2934 ahead of 1.2797. 

USDJPY NEUTRAL The potential is for extension of the correction phase. The next important 
support is at 99.58 ahead of 97.02. Resistance is at 101.80 ahead of 103.74. 

GBPUSD BEARISH
There is a major resistance at 1.5308. As long as this holds, the pair is 
vulnerable as bearish conditions prevail and a break below 1.5111 would 
expose 1.5009. 


USDCHF BULLISH
With bull trend in place, the recent downside move should be limited in time and 
extent which has tested support at 0.9527. A closing break below would prolong 
the correction to 0.9431. Resistance is at 0.9651 ahead of 0.9791. 


AUDUSD BEARISH
The immediate risk is for a short-term upside before the broader bear trend 
resumes. Resistance is at 0.9723 ahead of 0.9843. Support is at 0.9528 ahead 
of 0.9388. 


USDCAD BULLISH As long as support holds at 1.0266, the potential is for resumption of the bull 
trend. Resistance is at 1.0421 ahead of 1.0524. 


EURCHF BULLISH There is scope for resumption of upside as bull trend persists. Resistance is at 
1.2573 ahead of 1.2661. Strong support is at 1.2370 ahead of 1.2283. 


EURGBP NEUTRAL There is an important resistance at 0.8607. A break above which would extend 
the strength to 0.8656. Support is at 0.8522 and 0.8475. 


EURJPY BULLISH
Focus is on the momentum tools as a closing cross higher would end the recent 
consolidation phase and resume the broader bull trend. Resistance is at 132.34 
ahead of 134.38. Support is at 129.97 ahead of 128.19.