Forex Flash: EUR/USD has found a top in 1.37 - UBS

According to the Head of Foreign Exchange Strategy at UBS, Mansoor Mohi-uddin, "euro bulls should buy euro crosses like EURGBP and EURJPY rather than EURUSD", with the analyst arguing that "the Fed is set to end quantitative easing this year and Eurozone policymakers more apt to comment on sharp EURUSD rises than increases in other euro crosses." In view of Mr. Mohi-uddin, the EUR/USD is expected to trade in a 1.30-1.37 range in the next few months.

Feb 11, 2013

Forex: EUR/USD faces prospects of 1.3250 decline - Fan Yang

EUR/USD continues to hardly find bids in a low-volatility Asian session, stuck just below 1.3380 former support now turned resistance, and with two consecutive closes below the 20-day EMA, the pair starts this week facing the prospects of "further room to fall toward 1.3270, likely reinforced by a rising trendline going back to Nov. 2012" says Fan Yang, chief technical strategist at FXTimes, and independent analyst at FXstreet.com. According to the analyst, only above 1.35 "will be likely neutralize the recently short-term bearish trend", yet a regain of 1.36 is likely needed "before consideration of a bullish outlook" he adds.

Forex: AUD/JPY showing weakness below 95.50

AUD/JPY is currently at 95.37 near session lows at 95.26, on the back of Yen strength and Aussie weakness, off recent session highs at 95.75. The cross is down -0.24% since previous weekly close Friday, while all Asian markets but Australia and NZ are closed for holiday.