EUR/USD pullbacks limited near 1.1140 – UOB

The research team at UOB Group remains bearish on the pair, although bearish moves should meet support around 1.1140.

Key Quotes

“We turned bearish EUR yesterday and there is no change to the view”.

“While we expect EUR to head lower from here, the downside potential appears to be limited to 1.1145”.

“Resistance is at 1.1350 but only a move above 1.1395 would indicate that our bearish expectation is wrong (would lower stop-loss only when there is a clear move below 1.1230)”.