EUR/USD downside risks accelerating – UOB

Analysts at UOB Group expect the pair to intensify its downside in the near term.

Key Quotes

“The short-term EUR strength touched a fresh high of 1.1464 but did not threaten the key resistance at 1.1495. While the upward pressure has eased with the sharp pull-back from the high, it is still too early to expect a sustained down-move”.

“That said, short-term risk is tilted to the downside now and the odds for a move below 1.1325/30 is clearly higher than a move back above 1.1464. The next support below 1.1325/30 is at 1.1280”.