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19 Mar 2014
Flash: EUR/USD potential upside to 1.3965/70
FXStreet (Barcelona) - The Market Strategy Team at UOB Group expects the EUR/USD to attempt a rally to 1.3965/70 ahead of levels beyond the 1.4000 handle.
Key Quotes
"EUR is biding time ahead FOMC’s decision later today. We continue to expect a move above the strong resistant at 1.3965/70 towards the target at 1.4025/30."
"However, the consolidation over the last couple of days has led to weakening momentum and the key support has moved higher to 1.3825. A lear break below the short-term support at 1.3875/80 would be an early indication that the upside risk has diminished but only a move below 1.3825 would suggest EUR has found a top."
Key Quotes
"EUR is biding time ahead FOMC’s decision later today. We continue to expect a move above the strong resistant at 1.3965/70 towards the target at 1.4025/30."
"However, the consolidation over the last couple of days has led to weakening momentum and the key support has moved higher to 1.3825. A lear break below the short-term support at 1.3875/80 would be an early indication that the upside risk has diminished but only a move below 1.3825 would suggest EUR has found a top."