EURO (EUR) is expected to trade in a range of 1.0450/1.0505 against the US dollar (USD). In the longer term, the renovated bullish momentum indicates that EUR may continue to progress; The levels to be monitored are 1.0530 and 1.0560, FX analysts at UOB Group Quek Ser Leang and Peter Chia Note.
Monitoring levels are 1.0530 and 1.0560
24 hours display: “After EUR rose last Thursday, we pointed on Friday, when EUR was at 1.0500,” while he was greatly, the impulsive progress has a space to extend to 1.0530. “We added,” given the excessive conditions in the peak, it seems that a clear break above this level is unlikely. “EUR rose less than expected to 1,0505 and then retreated from the high price movements.
1-3 weeks show: “Last Friday (February 21, Al-Baqa at 1.0500), we highlighted that” the upscale momentum indicates that EUR can continue to progress. “We pointed out that there is a pair of main resistance at 1.0530 and 1.0560. “Although we did not expect the sharp withdrawal, the breach of 1.0425 (there is no change in the level of“ strong support ”) will nullify Our point of view. ”
