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EUR/USD downside looks limited – UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The research team at UOB Group has noted the resilience of EUR/USD to extend the downside below 1.0990 on a closing basis.

    Key Quotes

    “For three days in a row, EUR dipped below the crucial 1.0990 support but each time, it rebounded to close above”.

    “As highlighted in recent updates, only a daily closing below 1.0990 would shift the current neutral outlook to bearish”.

    “In the meanwhile, the downward pressure appears to have eased somewhat but only a clear move above 1.1085 would indicate that a short-term low is in place.”
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