EUR/USD short-term upward momentum improved - UOB

FXStreet (Bali) - The Market Strategy Team at UOB Group thinks the EUR is still not strong enough to regain 1.3865 key resistance, noting that 1.3780 remains very important on the downside.

Key Quotes

"While the short-term upward momentum has improved, it is not strong enough to drive EUR beyond the strong resistant at 1.3865 (high of 1.3855 yesterday)."

"The key level is still at 1.3780 as only a break below this level would suggest that an end to the current bullish view. Otherwise, a break above 1.3865 for further EUR gains in the weeks ahead still cannot be ruled out."