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EUR/USD: Next resistance now emerges at 1.0900 – UOB

In mild of the present price action, EUR/USD might per chance well now dispute the 1.0900 hurdle in the next couple of weeks, counsel Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Crew.

Key Quotes

24-hour gaze: “We highlighted the earlier day that EUR ‘is possible to trade with an upward bias nonetheless it for hasten stays to be seen if EUR can support a foothold above basically the most essential resistance at 1.0785’. The predicted EUR energy exceeded our expectations as EUR surged to 1.0866 sooner than closing on a solid display at 1.0846 (+0.85%). Despite the relatively gorgeous beneficial properties, momentum has now not improved by mighty. That acknowledged, the threat for EUR is accrued on the upside even though 1.0900 is anticipated to provide stable resistance. Above 1.0900, there is one more essential resistance degree at 1.0930. Toughen is at 1.0825; a breach of 1.0800 would indicate that the unique upward stress has eased.”

Next 1-3 weeks: “On Tuesday (10 Jan, converse at 1.0730), we highlighted that EUR is possible to rob a crack at one more solid resistance degree at 1.0785. Our gaze turn into once now not unpleasant as EUR cracked 1.0785 the earlier day and soared to 1.0866. The improved upward momentum suggests extra EUR energy. The next resistance is at 1.0900, followed by a key degree at 1.0930. The upside threat is undamaged so long as EUR stays above 1.0760 (‘solid enhance’ degree turn into once at 1.0665 the earlier day).”

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