UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang suggest EUR/USD is now seen within the 1.0680-1.0880 range.
Key Quotes
24-hour view: “We expected EUR to ‘trade sideways between 1.0790 and 1.0860’ yesterday. However, EUR rose briefly to 1.0869, dropped sharply to 1.0773 and closed at 1.0788 (-0.26%). The rapid decline in EUR has scope to extend but it is unlikely to break 1.0730 (there is another support at 1.0760). Resistance is at 1.0815, followed by 1.0840.”
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