EUR/USD: Dwindling bets for a close below 0.9900 – UOB – by pabspiovano EURUSD Currencies Majors Banks
to close below 0.9900 seem to have lost traction in past sessions, note FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.24-hour view: “Yesterday, we expected EUR to break 0.9900 but we were of the view that ‘the next support at 0.9850 is unlikely to come under threat’. While our view was not wrong as EUR dropped to 0.9875, we did not expect the subsequent strong bounce from the low. The rebound has scope to extend but is unlikely to break the strong resistance at 1.0005 .
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