The UOB-EUR/USD pair has now entered a stable phase.

UOB Group’s Lee Sue Ann and Quek Ser Leang Forex market (FX) Strategists said that the EUR/USD pair is currently navigating the 1.0625- 1.0785 points.

June 07, 2022 - 11:44 AM 247 views

The UOB-EUR/USD pair has now entered a stable phase.

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© The UOB-EUR/USD pair has now entered a stable phase.

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UOB Group’s Lee Sue Ann and Quek Ser Leang Forex market (FX) Strategists said that the EUR/USD pair is currently navigating the 1.0625- 1.0785 points.

Important Quotes

24 hour View: We anticipated EUR currency to stabilize and trade in a range of 1.0690 and 1.0760 on the previous day. However, EUR currency is finally traded between 1.0682 and 1.0751. The underlying tone has weakened slightly, and the EUR is likely to fall further. A persistent decrease below 1.0650, on the other hand, is doubtful (next support is at 1.0625). 1.0715 is the first level of resistance, followed by 1.0745."

In the Next 1-3 Weeks: "Our most recent narrative was from last Friday (03 June, spot at 1.0745), stating that EUR must break above 1.0800 before further increase is likely. EUR fell to a low of 1.0682 yesterday. The impetus has faded, despite the fact that our'strong support' level of 1.0675 has not been surpassed. To put it another way, the EUR does not appear to be ready to break through 1.0800 just yet. EUR could trade between 1.0625 and 1.0785 from here."

 

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