In light of FX Strategists at UOB Group, EUR/USD is unlikely to drop to the 1.1600 region in the next weeks. Key Quotes 24-hour view: “Yesterday, EUR dipped to a low of 1.1625 before rebounding to close slightly higher at 1.1672 (+0.11%). The price actions were in line with our expectations wherein EUR has room to ‘dip below the major support at 1.1630 but the next support at 1.1600 is unlikely to come into the picture’. The rebound from the low appears to have scope to extend higher but any advance is viewed as part of a 1.1640/1.1710 range. In other words, a sustained rise above 1.1710 is not expected.” Next 1-3 weeks: “There is not much to add to our update from 2 days ago (Sep 23, spot at 1.1710). As highlighted, the risk for EUR is still on the downside and ‘the next support is at 1.1630 followed by 1.1600’. EUR dropped to a low of 1.1625 yesterday (24 Sep) and shorter-term downward momentum appears to have slowed somewhat. In other words, while the outlook for EUR still remains weak, the next support at 1.1600 may not come into the picture so soon. On the upside, the ‘strong resistance’ level remains unchanged at 1.1760 for now.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Silver Price Analysis: XAG/USD looks to test the rising channel hurdle at $23.60 FX Street 2 years In light of FX Strategists at UOB Group, EUR/USD is unlikely to drop to the 1.1600 region in the next weeks. Key Quotes 24-hour view: “Yesterday, EUR dipped to a low of 1.1625 before rebounding to close slightly higher at 1.1672 (+0.11%). The price actions were in line with our expectations wherein EUR has room to ‘dip below the major support at 1.1630 but the next support at 1.1600 is unlikely to come into the picture’. The rebound from the low appears to have scope to extend higher but any advance is viewed as part of a 1.1640/1.1710 range. In… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.