EUR/USD: Bets for a breakout of 0.9900 remain on the rise – UOB – by pabspiovano EURUSD Currencies Majors Banks
24-hour view: “Yesterday, we held the view that EUR is likely to strengthen further even though we noted that ‘in view of the overbought conditions, a sustained rise above 0.9900 is unlikely’. However, EUR did not strengthen much as it edged to a 2-week high of 0.9875 before settling at 0.9852 . Despite the relatively quiet price actions, the underlying tone appears firm and EUR is likely to edge higher for today. That said, a sustained rise above 0.9900 still appears unlikely . Support is at 0.
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