The euro (EUR) is expected to consolidate in a range of 1,1660/1,1730. In the long term, the additional strength of the EUR still seems likely; The next level to monitor is 1,1780, the FX analysts of UOB Group, quek be Leang and Peter Chia point out.
The additional strength of the EUR still seems likely
24 -hour vision: “While we indicated yesterday that EUR ‘could break above 1,1700’, we affirm that ‘remains to be seen if you can maintain a position above this level.’ We add, ‘The next resistance in 1,1730 is unlikely to be visible.’ Our directional call was correct, but the EUR rose more than expected to 1,1744.
Vision at 1-3 weeks: “After waiting for the EUR to operate in a range since the end of last week, we reviewed our perspective to positive yesterday, June 26 (Par in 1,1670). We indicate that the EUR ‘could advance, and the level to monitor is 1,1730.’ We did not expect the EUR to reach 1,1730 as soon 1,1595 yesterday) would suggest that EUR is not strengthening anymore. “
Source: Fx Street
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