EUR/USD now expected to navigate the 1.0800-1.0930 range – UOB – by pabspiovano EURUSD Currencies Majors Banks
24-hour view: “We expected EUR to ‘trade sideways within a range of 1.0840/1.0900’ yesterday. EUR popped briefly to a high of 1.0913 before dropping to a low of 1.0837. Downward momentum has improved somewhat and EUR is likely to trade with a downward bias today. As downward momentum is not strong, EUR is unlikely to challenge the major support at 1.0800 . Resistance is at 1.0875, a breach of 1.0895 would indicate that the current mild downward pressure has eased.
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