EUR/USD looks for a close above 1.1250 – UOB

In opinion of the research team at UOB Group, EUR/USD needs to close above 1.1250 in order to allow for further gains.

Key Quotes

“EUR traded in a tight range yesterday and there is not much to add”.

“The undertone for this pair is still viewed as positive and we continue to anticipate a stronger EUR in the next few days but only a clear break above 1.1250 would indicate that the start of a sustained up-move”.

“On the downside, 1.1100 is acting as a major support and a breach of this level would suggest that the short-term upward pressure has eased”.