EUR/USD now looks to 1.1210 – UOB By pabspiovano EURUSD Banks Currencies Majors
24-hour view: “We expected EUR to ‘trade sideways’ yesterday. However, EUR plunged to a low of 1.1234 during NY session. The rapid decline is oversold but strong downward momentum indicates that EUR could weaken further. In view of the oversold conditions, a sustained decline below 1.1210 is unlikely . Resistance is at 1.1260 followed by 1.1280.”
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