9 May 2016
EUR/USD potential decline to 1.1300 – UOB
In view of the research team at UOB Group, EUR/USD risks a test of the 1.1300 area in the next 1-3 weeks.
Key Quotes
“We just shifted to a neutral stance last Friday and there is no change to the view”.
“The current movement is viewed as corrective pull-back which has scope to extend lower to 1.1300 but at this stage, a sustained move below this level is not expected”.
“Overall, this pair is expected to remain under pressure unless it can reclaim 1.1495”.
Key Quotes
“We just shifted to a neutral stance last Friday and there is no change to the view”.
“The current movement is viewed as corrective pull-back which has scope to extend lower to 1.1300 but at this stage, a sustained move below this level is not expected”.
“Overall, this pair is expected to remain under pressure unless it can reclaim 1.1495”.