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22 Apr 2015
EUR/USD: 1.0650 key for downside potential – UOB
FXStreet (Barcelona) - Analysts at UOB Group, give the technical outlook and key levels to the downside and upside for EUR/USD.
Key Quotes
“EUR dipped to a low of 1.0658 yesterday before rebounding strongly to a high of 1.0781. The current movement is still viewed as a short-term consolidation phase which may last for another couple of days more.”
“The key level is clearly at the stop-loss level of 1.0650 as a move below this level would indicate that we have seen a top at the recent high of 1.0845/50.”
“Otherwise, the current consolidation is expected to eventually lead to a move to 1.0845/50 if not the target at 1.0890.”
Key Quotes
“EUR dipped to a low of 1.0658 yesterday before rebounding strongly to a high of 1.0781. The current movement is still viewed as a short-term consolidation phase which may last for another couple of days more.”
“The key level is clearly at the stop-loss level of 1.0650 as a move below this level would indicate that we have seen a top at the recent high of 1.0845/50.”
“Otherwise, the current consolidation is expected to eventually lead to a move to 1.0845/50 if not the target at 1.0890.”