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29 Oct 2014
EUR rise likely limited to 1.2860 - UOB Group
FXStreet (Łódź) - The Market Strategy Team at UOB Group suggests that we will see some more EUR gains today but the climb will most probably be limited to the 1.2860 level for now.
Key Quotes
"EUR broke above the strong resistant at 1.2750 reaching an overnight high of 1.2763."
"While further EUR strength is likely in the coming days, upward momentum is not very strong at this stage and any further rally will likely struggle to move above the recent high near 1.2860."
"However, only an unlikely break below the key support at 1.2640 would indicate that the prevalent upward pressure has eased."
Key Quotes
"EUR broke above the strong resistant at 1.2750 reaching an overnight high of 1.2763."
"While further EUR strength is likely in the coming days, upward momentum is not very strong at this stage and any further rally will likely struggle to move above the recent high near 1.2860."
"However, only an unlikely break below the key support at 1.2640 would indicate that the prevalent upward pressure has eased."