EUR/USD still targets 1.0820 – UOB

The research team at UOB Group still sees EUR/USD slipping towards the 1.0820 area in the next 1-3 weeks.

Key Quotes

“EUR attempted to move lower but did not make much headway and last Friday’s 1.0909 low was unthreatened. The undertone is still negative and an attempt towards 1.0950 would not be surprising but 1.0905/10 is expected to hold for now”.

“The rapid decrease in volatility was surprising but the overall undertone for EUR is still negative and we continue to target a move to the major level of 1.0820. However, this is a very strong support and may not be easy to crack”.