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IPC Index — Mexico MarketUOB Group analysts Quek Ser Leang and Lee Sue Ann suggest that EUR/USD could see further strength, potentially reaching 1.2150. The report indicates that as long as the strong support level at 1.1890 holds, the upward momentum remains intact. The EUR is expected to trade within a range of 1.1920 and 1.2000 in the near term.
Potential for further strength in EUR/USD
“The sharp spike higher is likely to fuel further EUR strength, potentially to 1.2150.”
“While upward momentum has since slowed somewhat, we will maintain our view as long as 1.1890 continues to hold.”
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