26 Mar 2015
EUR/USD might struggle near 1.1035/40 - UOB
FXStreet (Barcelona) - Analysts at UOB Group are of the view that EUR/USD might continue to struggle at the resistance around 1.1035/40.
Key Quotes
“EUR moved above 1.1000 again yesterday before easing off. While momentum has improved considerably over the last couple of days, it is premature to expect a sustained mid-term up-move for now.”
“That said, 1.0850 is a strong short-term support and this level is expected to hold until end of the week but any up-move is expected to continue to struggle near the major 1.1035/40 resistance.”
Key Quotes
“EUR moved above 1.1000 again yesterday before easing off. While momentum has improved considerably over the last couple of days, it is premature to expect a sustained mid-term up-move for now.”
“That said, 1.0850 is a strong short-term support and this level is expected to hold until end of the week but any up-move is expected to continue to struggle near the major 1.1035/40 resistance.”