EUR/USD now seen navigating within 1.0600-1.0800 – UOB – by pabspiovano EURUSD Currencies Majors Banks
24-hour view: “We expected EUR to test 1.0725 yesterday but we were of the view that ‘the next resistance at 1.0760 is not expected to come under threat’. Our view was not wrong as EUR rose to 1.0730 before closing at 1.0719 . While the advance does not possess a lot of momentum, there is room for EUR to rise to 1.0760 before a pullback is likely. The major resistance at 1.0800 is unlikely to come into view. Support is at 1.0700, a breach of 1.0680 would indicate EUR is not advancing further.
suggest EUR is likely to test 1.0800 in the next few days. At this stage, we do not expect a sustained rise above this level.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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