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EUR/USD downside pressures eased? - UOB

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Nov 24, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Guatemala) - Analysts at UOB noted the key ranges. With EUR/USD highs today the analysts suggest that immediate downward pressure has eased.

    Key Quotes:

    "The sudden reversal last Friday clearly indicates that the recent short-term upward momentum has fizzled out. While the current weakness could extend lower, we prefer to see a daily closing below 1.0580 before adopting a bearish stance."

    "Only a move back above 1.0660 would indicate that the immediate downward pressure has eased."
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