The Euro (EUR) could rise to 1.0905; the major resistance at 1.0935 is unlikely to come under threat. In the longer run, upward momentum is beginning to build, but any advance is EUR is likely to face significant resistance at 1.0935, UOB Group’s FX analysts Quek Ser Leang and Peter Chia note.
EUR is likely to face significant resistance at 1.0935
24-HOUR VIEW: “EUR rose and closed higher for the fourth straight day yesterday (1.0883, 0.26%). Upward momentum is building, albeit tentatively. Today, EUR could rise to 1.0905. As upward momentum is not strong for now, the major resistance at 1.0935 is unlikely to come under threat. Support is at 1.0865, followed by 1.0845.”
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