The euro (EUR) is under slightly downward pressure against the US dollar (USD) and should be lower; Any drop is probably limited to a 1.1280 test. Current price movements are probably part of a consolidation phase between 1.1225 and 1,1410, FX analysts in the UOB group, Quek Ser Leang and Peter Chia Note.
Current price movements are probably part of a consolidation phase
View 24 hours a day: “EUR exchanged between 1.1286 and 1.1364 yesterday, closing slightly more than 0.17% to 1.1314. There has been a slight increase in momentum. Today, the EUR is likely to decrease, but unless an overvoltage of Momentum, a drop is probably limited to a test of 1.1280. 1.1225 is unlikely to threaten.
1 to 3 weeks see: “EUR reached a summit of 1.1573 two weeks ago. The initial retirement of this peak was clear, but the momentum was faded in the past few days. We consider the current price movements within the framework of a consolidation phase and we expect that EUR exchange between 1.1225 and 1.1410 for the moment.”
