EUR/USD: Risks skewed to the upside for now – OCBC
|Euro (EUR) continued to trade higher amid USD softness. Pair was last at 1.1684 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.
Range-bound on the day
"Mild bearish momentum on daily chart faded fast while RSI rose. Range-bound with risks skewed to the upside for now. Resistance at 1.1780 and 1.1830 (2025 high). EUR bulls need to clear these levels to see EUR bulls gain further traction. Support at 1.1600/30 (21, 50 DMAs), 1.1400/10 (38.2% fibo retracement of Mar low to Jul high, 100 DMA)."
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