EUR/USD Now Eyes 1.1140/45 – UOB
The research team at UOB Group expects EUR/USD to grind lower to the 1.1140 area.
Key Quotes
“The 1.1215 target that first highlighted earlier this week was exceeded with a low of 1.1200/05”.
“We were of the view that the potential of the current bearish phase is
limited to 1.1215 but the internal momentum is more impulsive than
anticipated and from here, extension to 1.1140/45 would not be
surprising”.
“Only a move back above 1.1320 would indicate that the bearish phase has ended”.
