EUR/USD could visit 1.0985 in the near-term – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 28, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Edinburgh) - In view of the research team at UOB Group, the pair’s corrective upside could see a test of the 1.0985 level in the next weeks.

    Key Quotes

    “A test of the month-to-date high of 1.0985 will not be surprising but a sustained up-move is unlikely”.

    “The breach of the 1.0905 stop-loss yesterday nullified our bearish EUR view”.

    “While the undertone remains positive, the current movement is unlikely to be part of a directional move”.

    “We are neutral now but the short-term bias is for a move higher to test the month-to-date high near 1.0985 even though a sustained move above this level appears unlikely. Strong support is at 1.0815”.
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