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.
“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”.