EUR/USD: A BOOST IN MOMENTUM TO PUSH EUR TOWARDS 1.1275 – UOB GROUP
Boost in momentum has increased the likelihood of Euro (EUR) reaching 1.1275, UOB Group FX strategists Quek Ser Leang and Lee Sue Ann note.
EUR is set to target 1.1275
24-HOUR VIEW: “We expected EUR to ‘strengthen further towards 1.1225’ yesterday. We indicated that ‘support levels are at 1.1165 and 1.1145.’ Our expectation did not turn out, as EUR traded between 1.1150 and 1.1201, closing at 1.1161 (-0.26%). EUR seems to have entered a consolidation phase
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