EUR/USD initial target at 1.14 – UOB

The research team at UOB Group has reiterated its bullish perspective for the pair, adding that the next target remains at 1.1400 in the next 1-3 weeks.

Key Quotes

“Despite early signs of slowing momentum, another attempt towards 1.1400 seems likely from here. However, based on the current momentum, a sustained move above this level appears unlikely. The overnight low of 1.1325 is acting as a decent support but the more significant level is at 1.1300”.

“We turned bullish EUR yesterday and there is no change to our view. The immediate target remains at 1.1400 where a break would shift the focus to 1.1450”.