EUR/USD risks further weakness near term – UOB – by pabspiovano EURUSD Currencies Majors Banks
24-hour view: “We highlighted yesterday that ‘the underlying tone has softened somewhat and EUR is likely to edge lower’. We added, ‘any decline is likely part of a lower range of 1.0835/1.0890’. While our view of a lower EUR was correct, it weakened more than expected as it dropped to a low of 1.0808 before recovering slightly to end the day at 1.0839 . Downward momentum has improved, albeit not much. Today, as long as EUR stays below 1.0870 , it could test the major support at 1.
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