Union Bank of Switzerland’s analysis team suggest that for the EUR/USD pair, immediate risk is on the upside but it’s too soon to expect a sustained rise in the single currency.
Key Quotes
“There is not much to add to the update from yesterday (21 Feb, spot at 1.1345).”
“Immediate risk for EUR is on the upside but lackluster momentum suggests that it is too soon to expect a sustained rise. In other words, while we continue to see scope for EUR to move higher, we expect any advance to struggle to break above 1.1440.”
“On a short-term basis, 1.1410 is already quite a strong level. On the downside, EUR has to move below 1.1270 in order to indicate that the current mild upward pressure has eased.”
Share
