FX Strategists at UOB Group believe further retracements in EUR/USD should not be sustainable. Key Quotes 24-hour view: “We highlighted yesterday that the rapid pull-back in EUR ‘has room to extend lower but any weakness from here is viewed as part of a lower trading range of 1.1815/1.1880’. EUR subsequently rose a couple of pips above the expected range (high of 1.1882) before dropping sharply to a low of 1.1785 during NY hours. Downward momentum has improved albeit not by much. While EUR could weaken from here, a break of the major support at 1.1750 appears unlikely for now (next support is at 1.1710). Resistance is at 1.1820 followed by 1.1855.” Next 1-3 weeks: “We have held the same view since last Friday (11 Sep, spot at 1.1825) wherein EUR is in a consolidation phase and is expected to trade between 1.1750 and 1.1920. EUR rose to a high of 1.1899 on Tuesday (15 Sep) but has since retreated. Downward momentum is beginning to improve and from here, EUR is deemed to be under mild downward pressure and could dip below 1.1750. That said, any weakness may not be sustained. On the upside, a move above 1.1885 would indicate the current mild downward pressure has eased. Looking forward, EUR has to close below 1.1750 before a move towards 1.1680 can be expected.” 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 Forex Today: Fed drives dollar higher, gold and stocks lower, BOE, jobless claims eyed FX Street 2 years FX Strategists at UOB Group believe further retracements in EUR/USD should not be sustainable. Key Quotes 24-hour view: “We highlighted yesterday that the rapid pull-back in EUR ‘has room to extend lower but any weakness from here is viewed as part of a lower trading range of 1.1815/1.1880’. EUR subsequently rose a couple of pips above the expected range (high of 1.1882) before dropping sharply to a low of 1.1785 during NY hours. Downward momentum has improved albeit not by much. While EUR could weaken from here, a break of the major support at 1.1750 appears unlikely for now (next… 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.