EUR/USD: Heavy within range – OCBC
|Terence Wu, an FX strategist at OCBC Bank, remains negative on the euro against the US dollar.
Key quotes
“While short-term implied valuations for the EUR/USD stayed elevated, the pair remained on a heavy tone, widening the gap between spot and implied valuations.”
“With the USD in ascendant again, expect the EUR to flex against the 1.0770/80 support. This level will need to be breached for the pair to see further downside.”
“Immediate resistance at 1.0850/60.”
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