EUR/USD risks a potential drop to the 0.9500 area – UOB – by pabspiovano EURUSD Currencies Majors Banks
24-hour view: “EUR traded between 0.9567 and 0.9670 yesterday, narrower than our expected consolidation range of 0.9560/0.9700. Downward momentum is building again and the risk for today is on the downside. That said, EUR is unlikely to break clearly below 0.9530. On the upside, a breach of 0.9660 would indicate that EUR is unlikely to weaken to 0.9530.”
Next 1-3 weeks: “Our latest narrative from Monday still stands. As highlighted, the impulsive and outsized drop from last Friday suggests EUR could continue to weaken, possibly to 0.9500. Overall, the weakness in EUR from 2 weeks ago is intact as long as EUR does not breach 0.9750 .”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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