EUR/USD door open for 1.0615/1.0575 – UOB

FX Strategists at UOB Group left the door open for a potential test of the 1.0615/1.0575 area in the next weeks.

Key Quotes

“EUR touched a low of 1.0638 yesterday before rebounding quickly. While the overall outlook for this pair is still viewed as neutral, shorter-term indicators suggest that the current pull-back from last week’s 1.0825/30 top has room to extend towards 1.0615, with lower odds for further extension to 1.0575”.

“Resistance is at 1.0735 but only a move back above 1.0760 would indicate that the immediate downward pressure has eased”.