EUR/USD still points to a test of 1.0830 – UOB

According to FX Strategists at UOB Group, the upside momentum in EUR/USD could extend to the 1.0825/30 band in the near term.

Key Quotes

“EUR closed higher for the second straight day and we continue to hold the view that the current strength has room to extend higher towards the year-to-date high at 1.0825/30”.

“This is a rather strong resistance and is unlikely to yield so easily (next resistance is at last December’s high near 1.0870”.

“All in, this pair is expected to stay underpinned from here as long as 1.0670 is not taken out. On a shorter-term note, 1.0700 is already a strong support”.