- Analytics
- News and Tools
- Market News
- EUR/USD faces solid resistance around 1.0645 – UOB
EUR/USD faces solid resistance around 1.0645 – UOB
FX Strategists at UOB Group Quek Ser Leang and Peter Chia noted further upside in EUR/USD should meet strong support around 1.0645 in the next weeks.
Key Quotes
24-hour view: “EUR rose to 1.0593 last Friday before easing off to close at 1.0560 (-0.25%). The underlying tone appears to have improved and the bias for today is for EUR to test last week’s high near 1.0605. For today, we do not expect a sustained rise above this level. Next resistance is at 1.0645. On the downside, a breach of 1.0530 (minor support is at 1.0550) would indicate that the current mild upward pressure has eased.”
Next 1-3 weeks: “EUR rose to a high of 1.0607 last Thursday (19 May). The advance appears to be part of corrective rebound that has room to extend further. However, any advance is expected to face solid resistance at 1.0645. The rebound phase is deemed intact as long as EUR does not move below 1.0500 (‘strong support’ level).”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
