Chance for the Euro (EUR) to edge lower. Any decline is still unlikely to break clearly below 1.0815. This level is expected to provide solid support, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.

The nearest support is at 1.0815

24-HOUR VIEW: “We detected ‘a tentative buildup in downward momentum’ yesterday. We expected a weaker EUR, but we were of the view that ‘any decline is unlikely to break clearly below 1.0815.’ EUR subsequently fell, but did not threaten the 1.0815 level, as it rebounded from a low of 1.0824. It then closed at 1.0839 (-0.11%). While there is no clear increase in downward momentum, there is a chance for EUR to edge lower today. However, any decline is still unlikely to break clearly below 1.0815. Resistance is at 1.0855 and 1.0865.”