- Analytics
- News and Tools
- Market News
- EUR/USD faces a solid support around 1.0830 – UOB
EUR/USD faces a solid support around 1.0830 – UOB
UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang note further downside in EUR/USD is likely to meet s decent support near 1.0830.
Key Quotes
24-hour view: EUR dipped briefly to a fresh 6-week low of 1.0843 last Friday before recovering to end the day little changed at 1.0865 (-0.06%). Despite making a fresh low, there is hardly any increase in downward momentum. Today, we expect USD to trade in a range, likely between 1.0845 and 1.0900.
Next 1-3 weeks: Last Friday, EUR dropped to a fresh 6-week low of 1.0843. Downward momentum has increased, albeit just a tad. While there is room for EUR to weaken further, the lackluster momentum suggests the pace of any decline is likely to be slow. Support is at 1.0830, followed by 1.0790, a solid support level. On the upside, if EUR breaches 1.0930, it would mean that EUR is not weakening further.
© 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
