{"id":167184,"date":"2023-10-03T10:44:49","date_gmt":"2023-10-03T05:14:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=167184"},"modified":"2023-10-03T10:44:49","modified_gmt":"2023-10-03T05:14:49","slug":"eur-usd-risks-a-drop-below-1-0400-uob-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/eur-usd-risks-a-drop-below-1-0400-uob-crypto-news\/","title":{"rendered":"EUR\/USD risks a drop below 1.0400 \u2013 UOB – Crypto News"},"content":{"rendered":"

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UOB Group\u2019s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia suggest EUR\/USD<\/strong><\/a> could weaken further and even break below 1.0400.<\/p>\n

Key Quotes<\/h2>\n
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24-hour view:\u00a0The sharp selloff that sent EUR to a fresh year\u2019s low of 1.0475 came as a surprise (we were expecting range trading). While the rapid decline appears to be overdone, there is no sign of stabilisation just yet. Today, EUR is likely to weaken further, but the support level at 1.0430 could be out of reach. On the upside, 1.0535 (minor resistance is at 1.0505) is likely strong enough to cap any intraday rebound.<\/p>\n<\/blockquote>\n

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Next 1-3 weeks:\u00a0Yesterday (02 Oct, spot at 1.0560), we highlighted that EUR \u201cappears to have entered a consolidation phase,\u201d and we expected it to trade in a range between 1.0495 and 1.0650. We did not anticipate EUR to plunge to a fresh year\u2019s low of 1.0475. The price action suggests that EUR is not in a consolidation phase. Instead, it is still likely in a bearish phase. From here, as long as EUR remains below 1.0565, it is likely to weaken to 1.0430, potentially below 1.0400.\u00a0<\/p>\n<\/blockquote><\/div>\n","protected":false},"excerpt":{"rendered":"

Share: UOB Group\u2019s Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia suggest EUR\/USD could weaken further and even break below 1.0400. Key Quotes 24-hour view:\u00a0The sharp selloff that sent EUR to a fresh year\u2019s low of 1.0475 came as a surprise (we were expecting range trading). While the rapid decline appears to […]<\/p>\n","protected":false},"author":2,"featured_media":5973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,257,276,433,255,250,277,252,247,253,249,256,254],"class_list":["post-167184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-banks","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\/167184","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=167184"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167184\/revisions"}],"predecessor-version":[{"id":167185,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/167184\/revisions\/167185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/5973"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=167184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=167184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=167184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}