EUR/USD still points southwards – UOB

According to the research team at UOB Group, the pair remains poised for further pullbacks in the near term.

Key Quotes

“There is not much to add; we still believe the current EUR weakness has scope to extend lower to mid-March low of 1.1055”.

“This is a rather strong support and those who are short from last Monday should look to cover half of their position at this level. Stop-loss remains unchanged at 1.1230”.