EUR/USD strong resistance at 1.1475 – UOB

FX Strategists at UOB Group stay bullish on the pair, although a tough resistance lies around 1.1480 in the near term.

Key Quotes

“Instead of extending above 1.1445 as expected, EUR eased off quickly after touching an exact high of 1.1445”.

“From here, the undertone still appears to be supportive of a higher EUR and a move above 1.1445 would not be surprising”.

“However, 1.1475 is another strong resistance and this level is unlikely to yield so easily. Support is at 1.1390 but the stronger level is closer to 1.1350”.