EUR/USD short-term support at 1.0770 – UOB

FXStreet (Barcelona) - Analysts at UOB Group suggest that EUR/USD remains in a neutral phase and with the short-term tone positive, the pair might remain supported at 1.0770 levels.

Key Quotes

“The high of 1.1029 yesterday did not quite reach the 1.1035/40 peak seen last week. The subsequent sharp drop from the high reinforces our view that EUR is still in a neutral phase for the next 1 to 2 weeks.”

“That said, the short-term undertone is positive and the 1.0770 support is expected to hold until the end of the week.”