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31 Mar 2015
EUR/USD might remain above 1.0650 – UOB
FXStreet (Barcelona) - Quek Ser Leang of UOB Group, expects any EUR/USD weakness to stay limited to 1.0650, noting that the current softness is likely a part of a broad consolidation.
Key Quotes
“The pull-back from the high of 1.1050 was not surprising. While a move above this level is not ruled out, it is more likely that 1.1050 is a temporary short-term top.”
“That said, any EUR weakness is likely part of a broad consolidation range and a move below the key major support at 1.0650 is not expected this week.”
“Support: 1.0750, 1.0650”
“Resistance: 1.0950, 1.1050”
Key Quotes
“The pull-back from the high of 1.1050 was not surprising. While a move above this level is not ruled out, it is more likely that 1.1050 is a temporary short-term top.”
“That said, any EUR weakness is likely part of a broad consolidation range and a move below the key major support at 1.0650 is not expected this week.”
“Support: 1.0750, 1.0650”
“Resistance: 1.0950, 1.1050”