EUR/USD: downside limited, 1.1230 key support - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Apr 19, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    Analysts at UOB Group explained that there is no change to their bearish view, but as highlighted previously, downward momentum is not very strong.

    Key Quotes:

    "the downside potential is likely limited to 1.1145. Stop-loss remains unchanged at 1.1395.

    Looking further ahead, this pair has to move below the strong 1.1230 support within the next few days as a prolonged consolidation above this level would lead to a rapid loss of momentum."
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