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EUR/USD now looks to 1.1180 – UOB Pablo Piovano

11:00 23 May /2016 Forex

In view of analysts at UOB Group, EUR/USD's downside could accelerate on a break below the 1.1180 region in the near term.

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”.

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