The Euro (EUR) could drop below the 1.0555 low; deeply oversold conditions suggest 1.0500 is unlikely to come under threat. In the longer run, EUR is still expected to weaken; the 1.0500 level may not come into view so soon, UOB Group’s FX analysts Quek Ser Leang and Lee Sue Ann note.
The 1.0500 level may not come into view so soon
24-HOUR VIEW: “Two days ago, we expected EUR to weaken, but we were of the view that ‘the major support at 1.0600 could be out of reach.’ After EUR dropped to a low of 1.0594, we indicated yesterday
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