26 Feb 2016
EUR/USD downside looks limited – UOB
The research team at UOB Group has noted the resilience of EUR/USD to extend the downside below 1.0990 on a closing basis.
Key Quotes
“For three days in a row, EUR dipped below the crucial 1.0990 support but each time, it rebounded to close above”.
“As highlighted in recent updates, only a daily closing below 1.0990 would shift the current neutral outlook to bearish”.
“In the meanwhile, the downward pressure appears to have eased somewhat but only a clear move above 1.1085 would indicate that a short-term low is in place.”
Key Quotes
“For three days in a row, EUR dipped below the crucial 1.0990 support but each time, it rebounded to close above”.
“As highlighted in recent updates, only a daily closing below 1.0990 would shift the current neutral outlook to bearish”.
“In the meanwhile, the downward pressure appears to have eased somewhat but only a clear move above 1.1085 would indicate that a short-term low is in place.”