5 Feb 2014
Flash: EUR/USD has limited upside risk for now - UOB
FXStreet (Bali) - According to the Market Strategy Team at UOB Group, while EUR/USD may see a retest of 1.3475/80, sustained break is unlikely, based on recent price action.
Key Quotes
"Narrow sideway trading yesterday resulted in a mixed outlook from here. However, the lack of rebound despite oversold conditions sug -gest limited upside risk for now. Expect 1.3570 to cap for a retest of the recent low at 1.3475/80 but a sustained break appears unlikely."
Key Quotes
"Narrow sideway trading yesterday resulted in a mixed outlook from here. However, the lack of rebound despite oversold conditions sug -gest limited upside risk for now. Expect 1.3570 to cap for a retest of the recent low at 1.3475/80 but a sustained break appears unlikely."