FXStreet (Edinburgh) – The research team at UOB Group has hinted at the possibility that the pair could test higher levels in the next weeks.
Key Quotes
“In line with our expectations, EUR traded mostly sideways for the whole of last week”.
“That said, short-term upward momentum is picking up and the current consolidation will be likely resolved by a move higher in EUR”.
“However, only a daily closing above the major 1.0990/95 resistance would indicate the start of a bullish phase”.
“Overall, unless there is a move back below 1.0800 in the next few days, the risk is clearly greater on the upside”.
(Market News Provided by FXstreet)