The euro (EUR) could break above 1,1700, but it remains to be seen if it can maintain a position above this level. In the long term, EUR could advance; The level to be monitored is 1,1730, the FX analysts of UOB Group, to be Leang and Peter Chia point.
EUR can advance more
24 -hour vision: “Our vision that the EUR was negotiated in a range yesterday was incorrect. Instead of negotiating in a range, the EUR rose and closed in a firm note in 1,1659 (+0.44%). The EUR continues to quote in a firm note in the early hours of today’s Asian session. A strong impulse indicates a greater strength of the EUR, but although the EUR can break over 1,1700, It remains if you can maintain a position above this level.
Vision at 1-3 weeks: “Last Thursday (June 19, quotation in 1,1475), we highlight that the EUR ‘will probably be negotiated in a range for now, probably between 1,1400 and 1,1570. On Monday (June 24, quote in 1,1585), we indicate that ‘although the EUR has exceeded 1,1570, there has not been a significant increase in the upward impulse.’ However, we point out that ‘given the increase in volatility, we now expect the EUR to be negotiated in a range of 1,1480/1,1660.’ Yesterday, EUR rose to a maximum of 1,1665 and has continued to rise today.
Source: Fx Street
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