EUR/USD Decline Limited around 1.1140 – UOB
The down move in EUR/USD could struggle to break below the 1.1140 area, suggested analysts at UOB Group.
Key Quotes
“As highlighted yesterday, extension lower to 1.1140/45 would not be
surprising but a clear and sharp drop below this level is not expected
(momentum indicators are lackluster at best)”.
“Overall, the bearish phase that started earlier this week is intact
unless there is a break above 1.1320 (1.1295 is already a strong
short-term level)”.
