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EUR/USD increasing upside risk “ UOB

10:47 31 March /2016 Forex

The research team at UOB Group has suggested the pair could advance further in the near term.

Key Quotes

œThere is no change to view wherein we continue to see increasing upside risk but it is unclear if EUR can break convincingly above the 1.1375 resistance (the lower 1.1342 resistance was breached overnight with a high of 1.1364).

œIn other words, while we recognize the immediate upward pressure, we are not ready to become a full-fledged EUR bull just yet.

œAll that said, the upside risk will continue to increase unless there is move back below 1.1220 in the next few days. On a shorter-term not, 1.1270 is already a strong support.