In opinion of FX Strategists at UOB Group, the pair could test the 1.1500 area although a deeper pullback appears unlikely in the short-term horizon. Key Quotes 24-hour view: “We highlighted yesterday that EUR could dip to 1.1550 but “a break of the 1.1525/30 support seems unlikely”. EUR subsequently dipped and touched a low of 1.1535 before rebounding quickly. Indicators are turning ‘flat’ which suggests further range trading for now. Expected range for today; 1.1540/1.1615″. Next 1-3 weeks: “As highlighted yesterday, despite the recent weakness, we are not convinced that EUR has reentered a bearish phase. However, a dip below the year-to-date low of 1.1505 is not ruled out but at this stage, we do not expect any weakness to be sustained (1.1450 is the next strong support). All in, EUR is likely to stay under pressure until it can reclaim the ‘key resistance’ at 1.1680 (level previously at 1.1710)”. 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 EUR/GBP struggles to make it through 0.8800 handle ahead of BoE FX Street 3 years In opinion of FX Strategists at UOB Group, the pair could test the 1.1500 area although a deeper pullback appears unlikely in the short-term horizon. Key Quotes 24-hour view: "We highlighted yesterday that EUR could dip to 1.1550 but "a break of the 1.1525/30 support seems unlikely". EUR subsequently dipped and touched a low of 1.1535 before rebounding quickly. Indicators are turning 'flat' which suggests further range trading for now. Expected range for today; 1.1540/1.1615". Next 1-3 weeks: "As highlighted yesterday, despite the recent weakness, we are not convinced that EUR has reentered a bearish phase. However, a dip below… Top 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.
