EUR/USD downside risks prevail – UOB

According to the research team at UOB Group, the pair’s perspective remains tilted to the downside in the next weeks.

Key Quotes

“The rebound from last Friday’s low of 1.0909 has been more resilient than expected as EUR touched a high of 1.1155 yesterday”.

“However, most indicators are still in bearish territory and the greater risk still lies of the downside”.

“The 1.0909 low is acting as a major support but a break of this level could lead to a rapid drop the mid-March low of 1.0820. Only a move above 1.1210 would indicate that a short-term low is in place”.