EUR/USD still focused on 1.1140 – UOB

Analysts at UOB Group have noted the relevance of the next support level around 1.1140 in the next weeks.

Key Quotes

“Momentum indicators continue to deteriorate and the prospect for the current bearish phase to extend lower to the next key level at 1.1140/45 is not high”.

“Unless there is a clear break below 1.1180 within these couple of days, a move back above the stop-loss at 1.1295 (adjusted lower from 1.1320) is enough to indicate that a short-term low is in place”.