EUR/USD now targets 1.1280 – UOB

The research team at UOB reiterated the bullish stance on EUR/USD and now aims for a test of 1.1280.

Key Quotes

“Instead of extending higher, EUR traded sideways within a tight 30 pips range of 1.1153/1.1183. Upward pressure has eased and further sideway consolidation is expected from here”.

“We shifted to a bullish EUR stance yesterday and there is no change to the view. At this stage, the upside potential appears to be limited to 1.1280. Stop-loss remains unchanged at 1.1060. There is not much to add as the tight 30 pips range yesterday does not offer further clues”.