UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang note further upside in EUR/USD is expected to meet a strong resistance around
1.0700. Key Quotes 24-hour view:EUR soared by 0.71% yesterday and closed at its highest level in more than a month. The advance is accompanied by strong upward momentum, and further EUR strength appears likely today. However, any advance is likely to face solid resistance at 1.0700. The major resistance at 1.0740 is unlikely to come under threat.
In order to keep the momentum going, EUR must stay above 1.0625 . Next 1-3 weeks:Yesterday, EUR soared by 0.71% and closed at its highest level in about a month. The price action appears to be part of a rebound that is likely to extend above 1.0700. At this stage, it is too early to tell if EUR has enough momentum to reach the major at 1.0740. The risk of a further rebound will remain intact as long as EUR stays above 1.0600 in the next few days.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
EUR/USD rises amid Eurozone economic data and ECB policy decisionsEUR/USD rises amid Eurozone economic data and ECB policy decisions
Lire la suite »
FX weekly — DXY and 14 currency pair levels and targetsEUR/USD this week is the most vital currency Vs USD as EUR/USD's direction determines the trade line up for the next month. EUR/USD remains oversold a
Lire la suite »
EUR/USD holds below the 1.0600 mark ahead of ECB rate decisionThe EUR/USD pair turns red during the early Asian session on Monday after retracing from the 1.0600 psychological round mark. Market players await the
Lire la suite »
EUR/USD Price Analysis: Remains capped below the 1.0600 mark, all eyes on ECB rate decisionThe EUR/USD pair snaps a two-day winning streak during the early European session on Monday. Market players await the European Central Bank (ECB) Inte
Lire la suite »
EUR/USD Forecast: Buyers could take action once 1.0600 is confirmed as supportFollowing a quiet Asian session, EUR/USD gained traction and turned positive on the day slightly above 1.0600. In case the pair manages to stabilize a
Lire la suite »