EUR/USD a Move to 1.1140 Needs a Break Below 1.1230 – UOB
In opinion of analysts at UOB Group, spot needs to break below 1.1230 in order to resume the pullback to the 1.1140 area.
“EUR touched a high of 1.1386 yesterday, holding just below the stop-loss for our bearish view at 1.1395”.
“Despite the sharp drop from 1.1386, this pair has to crack the major 1.1230 support before a move towards our 1.1145 target can be expected”.
“In the meanwhile, stop-loss remains unchanged at 1.1395 (to be adjusted only upon a breach of 1.1230)”.