24-hour view:\u00a0We expected EUR to consolidate in a range of 1.0645\/1.0695 yesterday. EUR then traded in a range of 1.0653\/1.0698 before closing at 1.0690 (+0.33%). The underlying tone has firmed somewhat, and there is room for EUR to edge higher today. However, any advance is unlikely to break the strong resistance at 1.0730. On the downside, if EUR drops below 1.0655 (minor support is at 1.0675), it would indicate that the current mild upward pressure has faded.\u00a0<\/p>\n<\/blockquote>\n
\nNext 1-3 weeks:\u00a0After EUR plummeted to a low of 1.0629, in our latest narrative from last Friday (15 Sep, spot at 1.0640), we highlighted that there had been a sharp increase in downward momentum. We held the view that EUR \u201chas likely resumed its weakness, but it remains to be seen if it can reach March\u2019s low near 1.0515 this time around.\u201d Since then, EUR has not been able to make further headway on the downside. Downward momentum is beginning to wane. In order to keep the momentum going, EUR must break and stay below 1.0630, or the odds of further decline will diminish rapidly. Conversely, if EUR breaks above 1.0730 (no change in \u2018strong resistance\u2019 in level from yesterday), it would also mean that EUR is not weakening further.\u00a0<\/p>\n<\/blockquote><\/div>\n","protected":false},"excerpt":{"rendered":"
Share: EUR\/USD risk extra losses below 1.0630, according to UOB Group\u2019s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang. Key Quotes 24-hour view:\u00a0We expected EUR to consolidate in a range of 1.0645\/1.0695 yesterday. EUR then traded in a range of 1.0653\/1.0698 before closing at 1.0690 (+0.33%). The underlying tone has firmed somewhat, and […]<\/p>\n","protected":false},"author":2,"featured_media":8461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[2289,201,248,251,246,257,276,433,255,250,277,252,247,253,249,256,254],"class_list":["post-158449","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-bankstocks","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-currencies","tag-eurusd","tag-gta","tag-looks-rare","tag-majors","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158449","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=158449"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158449\/revisions"}],"predecessor-version":[{"id":158450,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/158449\/revisions\/158450"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/8461"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=158449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=158449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=158449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}