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21 May 2014
EUR/USD: Bears while below 1.3750 - UOB
FXStreet (Bali) - The Market Strategy Team at UOB Group still supports the bearish bias on the EUR/USD short term as long as the price remains below the 1.3750 handle.
Key Quotes
"EUR touched the target highlighted at 1.3680 yesterday with a low of 1.3678. While the recovery from the low has resulted in a mixed outlook, the undertone is still negative and as long as the short-term key resistant at 1.3750 is intact, the risk is still for a lower EUR in the next couple of days. In the meanwhile, expect sideway trading to hold below 1.3750 but a clear break of 1.3675/80 could lead to a quick drop towards 1.3640."
Key Quotes
"EUR touched the target highlighted at 1.3680 yesterday with a low of 1.3678. While the recovery from the low has resulted in a mixed outlook, the undertone is still negative and as long as the short-term key resistant at 1.3750 is intact, the risk is still for a lower EUR in the next couple of days. In the meanwhile, expect sideway trading to hold below 1.3750 but a clear break of 1.3675/80 could lead to a quick drop towards 1.3640."