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EUR/USD door open for a test of 1.1495 – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group hinted a the possibility of a test of the 1.1500 neighbourhood in the near term.

    Key Quotes

    “There is not much to add as EUR tested the 1.1330 support before rebounding quickly”.

    “The undertone is positive but momentum is patchy at best and it is unclear at this stage whether EUR strength could surmount the major 1.1495 resistance (1.1435/40 is already a strong short-term level)”.

    “That said, only a clear break below 1.1325/50 would indicate that the immediate upward pressure has eased”.
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