FX Strategists at UOB Group noted EUR/USD has not ruled out another test of the mid-1.1700s in the next weeks. Key Quotes 24-hour view: “While our view for EUR to weaken yesterday was correct, our expectation that ‘a break of the major support at 1.1750 appears unlikely’ was not. EUR dropped to a low of 1.1735 but the decline was short-lived as it rebounded strongly to end the day higher by +0.28% (1.1847). The sharp and swift rebound appears to be running ahead of itself but there is room for EUR to extend its gains. That said, the odds for a break of the strong resistance at 1.1885 are not high (next resistance is at 1.1915). Support is at 1.1820 but only a breach of 1.1795 would indicate the current upward pressure has eased.” Next 1-3 weeks: “Yesterday (17 Sep, spot at 1.1795), we highlighted that EUR ‘is under mild downward pressure and could dip below 1.1750 but any weakness may not be sustained’. EUR subsequently dropped to a low of 1.1735 before staging a surprising sharp and robust rebound (overnight high of 1.1853). While downward momentum has been dented, only a break of 1.1885 (no change in ‘strong resistance’ level) would indicate the current mild downward pressure has eased. In other words, there is still chance, albeit a diminishing one for EUR to stage another attempt to close below 1.1750. Looking forward, a breach of 1.1885 would indicate EUR could consolidate within a broad range for a period of time.” 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 Asian Stock Market: Differs from previous two weekly fall despite trading mixed FX Street 2 years FX Strategists at UOB Group noted EUR/USD has not ruled out another test of the mid-1.1700s in the next weeks. Key Quotes 24-hour view: “While our view for EUR to weaken yesterday was correct, our expectation that ‘a break of the major support at 1.1750 appears unlikely’ was not. EUR dropped to a low of 1.1735 but the decline was short-lived as it rebounded strongly to end the day higher by +0.28% (1.1847). The sharp and swift rebound appears to be running ahead of itself but there is room for EUR to extend its gains. That said, the odds for… 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.