EUR/USD: Reverting to upside bias – OCBC

The EUR/USD may be reverting to an uptrend in the immediate horizon, having breached topside resistances in quick succession, Terence Wu, an FX strategists at OCBC Bank, briefs.

Key quotes

“If EUR/USD manages to hold north of the 55-day MA (1.0973), the set-up should allow for a push towards the 200-day MA (1.1057).” 

“Look for further upside extension for now, with support at 1.0950.”