EUR/USD: Mild downside risks – OCBC
|Euro (EUR) eased below 1.14-handle in morning trade as US Dollar (USD) saw a mild rebound. Last seen at 1.1399 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Euro can revert to trading withing the 1.12-1.15 range
"Mild bullish momentum on daily chart is fading while RSI fell. Near terms risks skewed to the downside. Support at 1.1320 (21 DMA), 1.1235 (23.6% fibo retracement of 2025 low to high). Immediate resistance at 1.1420/30 levels before 1.15, 1.1570 levels (2025 high)."
"EUR needs to break out of recent high for momentum to carry on. Failing which, it may well revert to trading 1.12 – 1.15 range."
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