EUR/USD to surge towards 1.20 on a break above 1.1880 – OCBC
|The EUR/USD pair eased higher back within the familiar 1.1800 to 1.1900 range and is seen today trading at 1.1865, up 0.15% on the day as of writing. Terence Wu, FX strategist at OCBC Bank, is closely watching the 1.1880 level as a break above the latter will open the way towards the 1.20 mark.
Key quotes
“The EUR-USD found little traction beyond 1.1750 as expected, and the subsequent reversal saw the pair taken to back into the familiar 1.1800 to 1.1900 range.”
“Focus will be on the 1.1880 resistance, with any sustained breach allowing further upside extension towards 1.2000.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.