EUR/USD still eyes a test of 1.0530 – UOB

The pair remains poised for another test of the 1.0530 area in the near term, suggested FX Strategists at UOB Group.

Key Quotes

EUR tested the 1.0630 resistance (high of 1.0633) before resuming its recent decline but the down-move did not reach the target indicated at 1.0530 (low of 1.0559). The undertone is still weak and we continue to expect the strong support at 1.0530 to be tested”.

“In line with expectation, EUR continues to grind lower and touched a ‘fresh low’ of 1.0559 yesterday. The undertone is still negative and we continue to expect further weakness towards the major 1.0530 support (the next significant support is much lower at 1.0450/55). The short-term key resistance is pegged at 1.0640, slightly lower than 1.0660 previously”.


Sell 64%
Buy 36%
Avg Sell Price 1.0660
Avg Buy Price 1.0699
Liquidity Distribution


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 securities. 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 Forex 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.