23 Feb 2015
EUR/USD range-play expected – UOB
FXStreet (Barcelona) - Analysts at UOB Group, expect further range trading in the EUR/USD pair despite improving upward momentum.
Key Quotes
“While upward momentum is improving, it is too early to expect a sustained up-move and EUR is expected to continue to range trade for this week.”
“Even a move above the strong short-term resistance at 1.1450 is likely limited to a retest of the 1.1530 high seen earlier this month.”
“On the downside, strong support is clearly at 1.1270 ahead of 1.1200.”
“Support: 1.1270, 1.1200”
“Resistance: 1.1450, 1.1530”
Key Quotes
“While upward momentum is improving, it is too early to expect a sustained up-move and EUR is expected to continue to range trade for this week.”
“Even a move above the strong short-term resistance at 1.1450 is likely limited to a retest of the 1.1530 high seen earlier this month.”
“On the downside, strong support is clearly at 1.1270 ahead of 1.1200.”
“Support: 1.1270, 1.1200”
“Resistance: 1.1450, 1.1530”