EUR/USD: A sustained decline below 0.9900 is not favoured – UOB – by pabspiovano EURUSD Currencies Majors Banks
appears unlikely for the time being, noted FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.24-hour view: “We did not anticipate the sharp sell-off in EUR during NY session. The outsized decline in EUR has scope to dip below 0.9930 before stabilization is likely. The next support at 0.9900 unlikely to come under threat. On the upside, a breach of 1.0050 would indicate that the current weakness has stabilized.
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