The UOB Group report by Quek Ser Leang and Lee Sue Ann suggests that the Euro is poised for further gains against the US Dollar, with a potential retest of 1.2080. As long as the Euro holds above 1.1950, the outlook remains positive, although a pullback is expected after reaching higher levels. The report emphasizes the strong upward momentum in the Euro’s price action.
Positive outlook for Euro
“As long as EUR holds above 1.1950, it could retest 1.2080 before a pullback can be expected.”
“Sharp spike higher is likely to fuel further EUR strength, potentially to 1.2150.”
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