UBS - "EURCHF NEUTRAL Resistance is at 1.2213. Strong support is at 1.2120.

EURGBP BULLISH The cross came under pressure from resistance at 0.8648. A closing break above would be positive, opening 0.8747. Support is at 0.8490 ahead of 0.8436.

EURJPY BULLISH Initial resistance is at 129.74, a break above would open 132.05 ahead of 134.38. Support is at 126.44 ahead of 124.94.

EURUSD NEUTRAL Support is at 1.2974 ahead of 1.2920. Resistance is at 1.3126 ahead of the more critical…

UBS - "EURUSD NEUTRAL Support is at 1.2974 ahead of 1.2920. Resistance is at 1.3228.

USDJPY BULLISH As bullish trend persists, there is scope for a test of resistance at psychological 100.00; a break above which would open 101.45. Support is at 97.22 and 95.80.

GBPUSD NEUTRAL Critical resistance is at 1.5424. Only a closing break above this would indicate further upside to 1.5606. Strong support is at 1.5178 ahead of 1.5034.

USDCHF BEARISH As long as resistance at 0.9345 holds,…

UBS - "Although USDCAD has made material gains over the last 9 months, the market is still very long CAD and buying reached a peak in mid-Q1 this year. The weak run of data and progressively softer policy pronouncements have prompted selling, but compared to the cumulative buying since 2009 there is a lot of liquidation potential, especially when compared to currencies like the AUD and NOK which are now either flat or heavily short on a structural level. We believe that CAD longs have been…

UBS - "EURCHF NEUTRAL Resistance is at 1.2173 ahead of 1.2213. Strong support is at 1.2120.

EURGBP NEUTRAL The cross is unwinding the sharp sell-off of March. Resistance is at 0.8560 ahead of 0.8602. Support is at 0.8463 ahead of 0.8410.

EURJPY BULLISH The risk is for resumption of strength as bullish trend persists. Resistance is at 128.03 ahead of 132.05. Support is at 123.70.

EURUSD NEUTRAL Support is at 1.2988, a break below this would expose 1.2896. Resistance is at 1.3138…

UBS - "GBPUSD NEUTRAL Critical resistance is at 1.5424. Support is at 1.5268 ahead of 1.5178.

USDCHF NEUTRAL There is a main support at 0.9230 – only a closing breach here would be a strong bearish development. Resistance is at 0.9340 ahead of 0.9375.

EURUSD NEUTRAL Resistance is at 1.3138 ahead of 1.3228. Support is at 1.2988 ahead of 1.2896.

USDJPY BULLISH The latest setback is correction to unwind the overextended upside conditions. Support at 97.13 should hold. Resistance is…

UBS - "EURUSD NEUTRAL Resistance is at 1.3134 ahead of 1.3228. Support is at 1.2978 ahead of 1.2890.
USDJPY BULLISH The pair tested critical resistance at 99.875 and the next major resistance is at 101.45. The immediate risk is for a setback, support at 98.59 ahead of 97.09.
GBPUSD NEUTRAL Resistance is at 1.5363 ahead of 1.5424 - while this holds, there is scope for resumption of broader bear trend. Support is at 1.5239 ahead of 1.5160."

UBS - "EURCHF NEUTRAL Resistance is at 1.2230. There is a significant support at 1.2120; only a break below this would be a major bearish development.

EURGBP NEUTRAL Resistance is at 0.8602 ahead of 0.8648. Support is at 0.8463 ahead of 0.8410.

EURJPY BULLISH As trending indicators are firmly bullish, there is scope for test of critical resistance at 132.05 and then 134.48. Support is at 128.44 ahead of 126.76.

EURUSD NEUTRAL There is a strong resistance at 1.3115. A closing…

UBS - "EURUSD BEARISH Upside should be limited and there is a strong resistance at 1.3115. While this holds, there is scope for a break below support at 1.2962, exposing 1.2869.
AUDUSD BULLISH As long as support at 1.0306 holds, there is scope for further upside in the near-term. Resistance is at 1.0497, a break above would open 1.0604.
USDCAD NEUTRAL Near-term directional triggers are at 1.0251 and 1.0089."

UBS - "EURUSD BEARISH The broader picture is still bearish and upside should be limited, with resistance at 1.3048 and then 1.3115. Support is at 1.2858 ahead of 1.2746.

USDJPY BULLISH The sharp rally extended this morning and is approaching important resistance at 99.850; a break above would open 101.45. Support is at 95.77.

GBPUSD NEUTRAL The important resistance is at 1.5424, a closing break above this would extend the recovery to 1.5606. Support is at 1.5200 ahead of…

UBS - "Clearly, the softer US employment, manufacturing and services ISM data and weekly jobless claims are a setback for America's near term outlook.

But with weaker data in the Eurozone likely to draw a response from the ECB, the BoJ expanding its quantitative easing enormously and the BoE still likely to engage in further easing too, we expect the dollar will still emerge the strongest of the major currencies this year.

This week's key points for currency markets are:

-…

UBS - "EURUSD BEARISH Any upside should be limited in time and extent, with resistance at 1.2900 and 1.2935. Support is at 1.2751, a break below would expose 1.2662.

USDJPY NEUTRAL Resistance is at 93.69 ahead of 94.38. Support is at 92.57, a breach of which would extend correction to 90.88.

GBPUSD BEARISH Strong resistance is at 1.5269. While this holds, watch for a break under 1.5027 and extend weakness to 1.4832.

USDCHF BULLISH While support at 0.9429 holds, there is…

UBS - "EURCHF NEUTRAL There is a significant support at 1.2120. Resistance is at 1.2202 ahead of 1.2255.

EURGBP BEARISH The recovery over the past two days is to unwind the overextended downside conditions. Resistance is at 0.8557. Support is at 0.8410 ahead of 0.8364.

EURJPY BEARISH The risk is for extension of weakness. Focus is on critical support at 118.73, a break below this would expose 116.85. Resistance is at 121.87.

EURUSD BEARISH As bearish trend persists, focus is…

UBS - "For those tempted to look at SEK shorts at an early stage we suggest two possibilities:

1) long NOKSEK from 1.12 with a stop just below recent lows near 1.1030 - this is the purest expression of a SEK weakening play given the tight trade relationships and similar growth and household leverage/banking dimensions in the two countries. The rationale here would be that NOK has already reacted to the dovish central bank tilt we suspect SEK may eventually succumb to,…

UBS - "EURUSD BEARISH Strong resistance at 1.2900 and 1.2935 should hold any upside. The risk is for rejection and resumption of weakness. Support is at 1.2751 ahead of 1.2662.

USDCHF BULLISH There is a major support at 0.9429. While this holds on closing basis, there is potential for resumption of strength. Resistance is at 0.9528 ahead of 0.9567.

AUDUSD BULLISH Resistance is at 1.0497, a break above would leave little resistance until 1.0599. Support is at 1.0386 ahead of…

UBS - "EURUSD BEARISH As bearish trend conditions persist, there is scope for extension of weakness to test strong support at 1.2662. Resistance is at 1.2900.
USDJPY BULLISH While the support at 93.11 holds, the risk for resumption of upside. Initial resistance is at 95.12, a break above would open 96.71.
GBPUSD BEARISH The broader bear trend is intact and support is at 1.5093, a break below would trigger deeper sell-off to 1.5027. Resistance is at 1.5269."

UBS - "USDJPY BULLISH There is a major support at 93.11. While this holds, there is potential for resuming upside. Initial resistance is at 95.12, a break above would open 96.71.

GBPUSD BEARISH The broader bear trend is intact and support focus is at 1.5027, a break below would trigger deeper sell-off to 1.4832. Resistance is at 1.5207 ahead of 1.5269.

USDCHF BULLISH With trending and momentum indicators pointing higher, there is scope for further upside to resistance at 0.9567…

UBS - "EURCHF NEUTRAL Resistance is at 1.2255 ahead of 1.2305. Support is at 1.2167 ahead of 1.2120.

EURGBP BEARISH There is a strong support at 0.8445 - a closing break below this would be an important bearish development. Resistance is at 0.8561 ahead of 0.8602.

EURJPY NEUTRAL The risk is for extension of the broader correction phase. Support is at 120.08 ahead of 118.73. Resistance is at 123.85 ahead of 126.04.

EURUSD BEARISH As bearish trend conditions persist, there is scope…

UBS - "The Swiss franc has been a clear beneficiary of events in Cyprus. Domestic clients in Switzerland have steadfastly refused to buy EURCHF even though the cross has traded in a more volatile manner this year above the Swiss National Bank's minimum 1.20 target floor. That view has been based on the Eurozone crisis presenting too much risk for holding long EURCHF positions. This month's events in Cyrpus will only reinforce such convictions amongst Swiss clients.

As a result EURCHF is…

UBS - "USDCHF BULLISH The pair bounced sharply yesterday after testing important support at 0.9359. While this holds on closing basis, there is scope for a move higher to 0.9567.
AUDUSD BULLISH With the trending and momentum indicators pointing north, setbacks will be limited. There is no major resistance until 1.0599. Support is at 1.0333.
USDCAD BULLISH While support at 1.0181 holds, there is scope for resumption of upside. Resistance is at 1.0285 ahead of 1.0342."