EUR/USD: Upside could test the 1.1410 level – UOB
|In opinion of FX Strategists at UOB Group, the upside bias in EUR/USD could reach the 1.1410 level in the next weeks.
Key Quotes
24-hour view: “EUR traded sideways between 1.1301 and 1.1359 yesterday, narrower than our expected range of 1.1260/1.1380. Further sideway-trading appears likely, expected to be within a range of 1.1290/1.1370.”
Next 1-3 weeks: “Our update from yesterday (01 Dec, spot at 1.1335) still stands. As highlighted, EUR is likely to trade with an upward bias towards 1.1410. At this stage, a sustained rise above this level is unlikely. On the downside, a breach of 1.1240 (‘strong support’ level was at 1.1220 yesterday) would indicate that EUR is not ready to head towards 1.1410.”
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.