EUR/USD pullbacks limited around 1.1215 – UOB

In view of analysts at UOB Group, pullbacks in EUR/USD seem to be limited to the 1.1215 level in the next weeks.

Key Quotes

“There is not much to add as EUR spent another day going nowhere”.

“That said, we still hold a bearish view but as highlighted in recent updates, the downside potential appears to be limited to 1.1215”.

“Resistance is at 1.1355 but only a break above 1.1400 would indicate that the bearish phase has ended”.