A Close Above 1.1030 To Confirm Bullish Outlook N-Term; Negate On Breach Of 1.0890 - UOB
UOB Research discusses EUR/USD technical outlook and adopts a tactical bullish bias in the near-term against a break back below 1.0890.
"EUR is expected to trade with an upward bias towards 1.1017. Looking ahead, EUR has to close above 1.1030 before further sustained up-move can be expected.
Meanwhile, the overall positive outlook remains intact as long as EUR does not move below 1.0890 ('strong support' level was previously at 1.0825)," UOB notes.