EUR/USD a test of 1.1150 remains on the cards – UOB

In view of analysts at UOB Group, EUR/USD upside could extend towards the 1.1150 area in the near term.

Key Quotes

“We shifted to a neutral EUR stance yesterday and held the view that the current rebound in EUR could extend higher to 1.1150”.

“We have seen a high of 1.1118 so far and the pullback from the top appears to be corrective in nature and from here, we continue to anticipate a move to 1.1150 (next resistance is at 1.1180/85)”.

“Support is at 1.1040 but the key level is 1.1000 (breach of this level would indicate that immediate upward pressure has eased)”.