6 Feb 2014
Flash: EUR/USD near term mixed ahead of ECB - UOB Group
FXStreet (Barcelona) - The Market Strategy Team at UOB Group feel that EUR/USD’s near term outlook is understandably mixed ahead of today’s ECB meet.
Key Quotes
"EUR traded narrowly yesterday with a 24-hour range between 1.3499 and 1.3555. The short-term technical outlook remains mixed and the market direction is likely going to be determined by the outcome of ECB today.”
“However, as long as the key resistant at 1.3570/75 is intact, the risk appears to be greater on the downside but acceleration lower is likely only upon a clear break below the recent low at 1.3475/80."
Key Quotes
"EUR traded narrowly yesterday with a 24-hour range between 1.3499 and 1.3555. The short-term technical outlook remains mixed and the market direction is likely going to be determined by the outcome of ECB today.”
“However, as long as the key resistant at 1.3570/75 is intact, the risk appears to be greater on the downside but acceleration lower is likely only upon a clear break below the recent low at 1.3475/80."