EUR/USD Bearish Stance Losing Momentum? – UOB
The research team at UOB Group sees the bearish picture unchanged around EUR/USD, albeit losses could be limited around 1.1140.
Key Quotes
“There
is no change to our bearish view but as highlighted previously,
downward momentum is not very strong and the downside potential is
likely limited to 1.1145. Stop-loss remains unchanged at 1.1395 but
1.1350 is already a strong short-term resistance”.
“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”.
