Forex Flash: EUR/USD still bearish despite the good news - UBS

FXstreet.com (Barcelona) - “The latest strength does not change the bearish picture,” says UBS analyst Gareth Berry, “and there is a strong resistance at 1.3107,” he notes. “Support is at 1.2844 ahead of 1.2662,” Garry adds.

Despite good news coming from Brussels today dealing with Cyprus bailout: “We maintain our 1m 3m and year-end EURUSD targets at 1.30, 1.28, and 1.20 respectively,” Mr Berry concludes.