EUR/USD perspective looks constructive – UOB

The research team at UOB Group keeps the positive view of the pair in the upcoming weeks.

Key Quotes

“As mentioned yesterday, while short-term momentum has eased off, it is not enough to indicate that a short-term top is in place. Hence, we continue to hold a positive view forEUR”.

“Last week’s peak near 1.1435/40 is clearly a strong resistance but even if EUR can surmount this level, the October 2015 peak of 1.1495 is a major resistance and this level would not be easy to overcome. On the downside, support is at 1.1330 followed by 1.1270”.