3 May 2016
EUR/USD now looks to 1.1710 – UOB
The ongoing upside in the pair could allow for a test of levels above the 1.1700 handle, suggested analysts at UOB Group.
Key Quotes
“We highlighted last Friday that a daily close above 1.1400 would indicate the start of a move to 1.1465. This level was easily exceeded as EUR surged to a high of 1.1536 yesterday”.
“The next target from here is at 1.1600 and a clear break above this level would shift the focus to the August 2015 peak of 1.1710. Stop-loss for our bullish view is at 1.1400”.
Key Quotes
“We highlighted last Friday that a daily close above 1.1400 would indicate the start of a move to 1.1465. This level was easily exceeded as EUR surged to a high of 1.1536 yesterday”.
“The next target from here is at 1.1600 and a clear break above this level would shift the focus to the August 2015 peak of 1.1710. Stop-loss for our bullish view is at 1.1400”.