EUR/USD rallies seen fading at 1.0950 – UOB

Peter Chia, FX Strategist at UOB Group, suggested rallies in the pair should be running out of legs in the mid-1.0900s.

Key Quotes

“EUR/USD saw sellers emerge after a spike to 1.0945 in NY session, fading the pair lower towards the 1.09 figure”.

“A Reuters article citing central bank sources that ECB is highly likely to extend its QE program beyond Mar-2017 exerted further weight on the pair”.

“From here, rallies should be limited to 1.0950 for an eventual dip towards 1.0800”.