Provided that Euro (EUR) remains below 1.0845, it could drop below 1.0800. The support at 1.0760 is unlikely to come under threat, UOB Group FX strategists Quek Ser Leang and Peter Chia note.
EUR is closing in on 1.0845
24-HOUR VIEW: “Our view of EUR trading sideways was incorrect, as it fell to a low of 1.0801. EUR closed at 1.0819 (-0.35%). Downward momentum has increased, albeit not much. Today, provided that EUR remains below 1.0845 (minor resistance is at 1.0835), it could drop below 1.0800. The major support at 1.0760 is unlikely to come under threat.”
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