FXStreet (Edinburgh) – The research team at UOB Group has noted the downside momentum is picking up pace around the pair in the near –term.
Key Quotes
“After trading mostly sideways since middle of last month, there are warning signs that the downside pressure is increasing”.
“That said, only a clear break below 6.5900 would indicate that the start of a bearish phase in USD”.
“Overall, unless this pair can reclaim 6.6300 in the coming days, the downside risk will continue to increase”.
(Market News Provided by FXstreet)