United Overseas Bank expects sideways trading within 1.1145 and 1.1245 which means the following:
- the price will be ranging between 1.1245 resistance level located on 100-SMA/200-SMA on the border between the primary bearish and the primary bullish on the chart, and
- 1.1145/1.1143 support level located below 100-SMA/200-SMA in the primary bearish area of the chart.
According to UOB - EUR/USD pair is on ranging market condition for waiting for direction:
"EUR continues to trade in a listless manner and at this stage, we still prefer to hold a neutral view. Only a clear move beyond the key levels of 1.1085 or 1.1295 would suggests the start of a directional movement in the coming weeks."
Resistance | Support |
---|---|
1.1245 | 1.1145 |
1.1295 | 1.1085 |
Thus, intermediate support/resistance levels are 1.1145 and 1.1245, and key reversal directional levels for today and for the coming week are 1.1085 and 1.1295.