EUR/USD could struggle around 1.1170 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 4, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Edinburgh) - The research team at UOB Group has noted that EUR/USD faces strong support beyond the 1.1170.

    Key Quotes

    EUR punched through successive major resistances to touch a high of 1.1145, level not seen since October last year”.

    “The rally appears to be running ahead of itself and any extension higher is not expected to move significantly above 1.1165/70”.

    “That said, any down-move is expected to encounter strong support at 1.1050 and 1.1000 would be a tough level to break from here”.
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