EUR/USD keeps the bearish outlook – UOB

Analysts at UOB Group keep their bearish stance on the pair for the next 1-3 weeks.

Key Quotes

“There is no change to our bearish view but as highlighted previously, downward momentum is not very strong and the downside potential is likely limited to 1.1145”. 

“Stop-loss remains unchanged at 1.1395 but 1.1350 is already a strong short-term resistance”.

“Looking further ahead, this pair has to move below the strong 1.1230 support within the next few days as a prolonged consolidation above this level would lead to a rapid loss of momentum”.