UOB turned bullish on EUR/USD.

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UOB research team specialists turned to bullish on EUR/USD from neutral.

“The current price action is reminiscent of the rally last December where the one day surge to a high of 1.0980 led to a limited extension to 1.1059” written in the report.

According to the analysts, only a break above 1.1245 would signal a move towards higher targets of 1.1375. The support level for this pair is located at 1.1090, however only a break below 1.1030 would push the rate lower.
EUR/USD closed at 1.1146 on Friday, gaining more than 1.2% from the previous week.

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