5 Dec 2013
Flash: EUR/USD likely under upward pressure today - UOB Group
FXstreet.com (Barcelona) - The Market Strategy Team at UOB Group notes that while EUR/USD will likely come under upward pressure today, momentum remains weak.
Key Quotes
“The rally from the low of 1.3525 is suggesting that the resistant at 1.3620/25 will likely come under pressure today, the upward momentum is not very strong and even a move above 1.3620/25 is likely going to be limited to the next resistant at 1.3650.”
“Overall, expect the immediate support at 1.3540 to hold for a move towards 1.3650.”
Key Quotes
“The rally from the low of 1.3525 is suggesting that the resistant at 1.3620/25 will likely come under pressure today, the upward momentum is not very strong and even a move above 1.3620/25 is likely going to be limited to the next resistant at 1.3650.”
“Overall, expect the immediate support at 1.3540 to hold for a move towards 1.3650.”