According to FX Strategists at UOB Group, EUR/USD could still see some downside to the 1.0770 region ahead of a potential move to 1.0749 in the near-term. Key Quotes 24-hour view: “Expectation for EUR to ‘weaken further to 1.0770’ did not materialize as it rebounded after touching a low of 1.0780. Downward pressure has eased and the solid support at 1.0770 is likely to remain unchallenged. For today, EUR is expected to trade sideways at these lower levels, likely between 1.0785 and 1.0830.” Next 1-3 weeks: “We highlighted on Monday (17 Feb, spot at 1.0840) that ‘the combination of waning momentum and oversold conditions suggest that a bottom may not be far away’. We added, ‘while a dip below 1.0810 would not be surprising, the next support at 1.0770 could be out of reach’. Instead of ‘dipping below 1.0810’, EUR plummeted below this level and dropped to a low of 1.0784 before ending the day on a weak note at 1.0791 (-0.40%). The sudden and rapid pick up in momentum suggests the weak phase that started earlier this month is not ready to stabilize just yet. Only a move above 1.0860 (‘strong resistance’ level previously at 1.0890) would indicate that the current weakness in EUR has run its course. Otherwise, a break of 1.0770 would open up the way for further decline towards 1.0740 (next support is at 1.0700).” 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 stocks struggle to cheer PBOC rate cut amid coronavirus fears FX Street 2 years According to FX Strategists at UOB Group, EUR/USD could still see some downside to the 1.0770 region ahead of a potential move to 1.0749 in the near-term. Key Quotes 24-hour view: “Expectation for EUR to ‘weaken further to 1.0770’ did not materialize as it rebounded after touching a low of 1.0780. Downward pressure has eased and the solid support at 1.0770 is likely to remain unchallenged. For today, EUR is expected to trade sideways at these lower levels, likely between 1.0785 and 1.0830.” Next 1-3 weeks: “We highlighted on Monday (17 Feb, spot at 1.0840) that ‘the combination of waning… 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.