EUR/USD: a breach of 1.0710 unlikely near term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 27, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - According to the research team at UOB Group, a break below the 1.0710 support appears unlikely in the short term.

    Key Quotes

    “The short-term EUR strength appears to have room to extend higher but as long as the stop-loss at 1.0905 is intact, we continue to hold a bearish view”.

    “That said, as highlighted previously, downward momentum is not impulsive and a move below the major support at 1.0710 appears unlikely for now”.
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