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9 Feb 2015
EUR/USD may move higher before resuming lower – UOB Group
FXStreet (Barcelona) - Analysts at UOB Group view that EUR/USD might move higher towards 1.1350 before resuming lower towards 1.1260 levels.
Key Quotes
“The unexpected break back below the 1.1420 support led to a sharp drop last Friday. While the down-move appears incomplete, severely oversold conditions could lead to a rebound first before further weakness can be expected.”
“Allow for a move to 1.1350 but 1.1385/90 will likely cap for a drop to 1.1260.”
Key Quotes
“The unexpected break back below the 1.1420 support led to a sharp drop last Friday. While the down-move appears incomplete, severely oversold conditions could lead to a rebound first before further weakness can be expected.”
“Allow for a move to 1.1350 but 1.1385/90 will likely cap for a drop to 1.1260.”