EUR/USD bearish stance losing momentum? – UOB

The research team at UOB Group sees the bearish picture unchanged around EUR/USD, albeit losses could be limited around 1.1140.

Key Quotes

“There is no change to our bearish view but as highlighted previously, downward momentum is not very strong and the downside potential is likely limited to 1.1145. Stop-loss remains unchanged at 1.1395 but 1.1350 is already a strong short-term resistance”.

“Looking further ahead, this pair has to move below the strong 1.1230 support within the next few days as a prolonged consolidation above this level would lead to a rapid loss of momentum”.