EUR/USD still expected to push higher – UOB

Pablo Piovano FXStreet

FX Strategists at UOB Group still see EUR/USD advancing past the 1.1900 mark in the next weeks.

Key Quotes

24-hour view: “Yesterday, we expected EUR to ‘trade sideways within a 1.1840/1.1895 range’. Our view for sideway-trading was not wrong even though EUR traded within a narrower range than expected (1.1857/1.1896). Momentum indicators are still mostly ‘neutral’ and further sidewaytrading would not be surprising. Expected range for today, 1.1855/1.1900.”

Next 1-3 weeks: “Our update from last Friday (30 Jul, spot at 1.1890) still stands. As highlighted, EUR could continue to advance towards 1.1915, possibly 1.1945. On the downside, a break of 1.1825 (no change in ‘strong support’ level) would indicate that the current upward pressure has eased.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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