UOB will turn bearish if EUR/USD falls below 1.12.

Home / EUR USD / UOB will turn bearish if EUR/USD falls below 1.12. FORECAST

UOB analysts are still neutral on EUR/USD, however they stated that in case of the pair closing below 1.1200, they will revise their outlook to bearish. “While the downward momentum has eased somewhat after the rebound from the low of 1.1231 yesterday, the undertone for EUR is still weak and the immediate risk is tilted to the downside. However, as highlighted yesterday, only a daily closing below 1.1200 would indicate the current neutral outlook has shifted to bearish. In the meanwhile, this pair is expected to remain under pressure unless it move and stay above the 1.1330 resistance.” written in the report.

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