Flash: EUR/USD to test 1.3800 resistance? - UOB Group

FXstreet.com (Barcelona) - Market Strategists at UOB Group notes that the EUR/USD 1.3780 target highlighted yesterday was met with an overnight high of 1.3795.

Key Quotes

“While the upward momentum is still not very strong, there is no indication of a top just yet.”

“Expect a move towards the strong resistant at 1.3800/05 but a sustained break appears unlikely for now. Only a move below 1.3730 will suggest that a deeper pullback is on the way.”