EUR/USD targets 1.1350 near term – UOB

The research team at UOB Group has suggested EUR/USD could advance to 1.1350 in the next 1-3 weeks.

Key Quotes

“The strong 1.1320/25 resistance (Tuesday’s high) was not threatened as EUR touched an overnight high of 1.1315. Upward momentum has improved somewhat but at this stage, even a move above 1.1320/25 is expected to face stiff resistance at 1.1350”.

“We turned bullish EUR yesterday and there is no change to the view. From here, we continue to expect to see a move to 1.1350 where a break would shift the focus to the 1.1430/35 high seen on the day of Brexit”.