<\/p>\n
Risk appears to be tilted to the upside; it remains to be seen if it can break clearly above 1.0850. Risk of the Euro (EUR) breaking above 1.0850 has increased, albeit moderately, UOB Group FX analysts Quek Ser Leang and Peter Chia note.<\/p>\n
24-HOUR VIEW: \u201cEUR traded between 1.0809 and 1.0830 yesterday, narrower than our expected range of 1.0800\/1.0840. Despite the relatively quiet price action, upward momentum appears to be building, albeit tentatively. The risk for today appears to be tilted to the upside, but it remains to be seen if EUR can break clearly above the major resistance at 1.0850. However, if there is a clear break of 1.0850, EUR could continue to rise. That said, the next major resistance at 1.0915 is unlikely to come into view for now. On the downside, support levels are at 1.0815 and 1.0800.\u201d<\/p>\n
1-3 WEEKS VIEW: \u201cLast Thursday (04 Jul, spot at 1.0785), we indicated that \u2018while the increase in momentum suggests further EUR strength, it is too early to determine if it can reach the major resistance at 1.0850.\u2019 After EUR rose, we indicated on Monday (08 Jul, spot at 1.0825) that \u2018the risk of EUR breaking above 1.0850 has increased, albeit moderately.\u2019 We continue to hold the same view. Looking ahead, if EUR breaks clearly above 1.0850, the next level to focus on is 1.0915. Overall, only a breach of 1.0780 (\u2018strong support\u2019 level previously at 1.0770) would indicate that the current upward pressure has faded.\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
Risk appears to be tilted to the upside; it remains to be seen if it can break clearly above 1.0850. Risk of the Euro (EUR) breaking above 1.0850 has increased, albeit moderately, UOB Group FX analysts Quek Ser Leang and Peter Chia note. A break above 1.0850 is highly likely 24-HOUR VIEW: \u201cEUR traded between […]<\/p>\n","protected":false},"author":2,"featured_media":5276,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[299,201,248,251,246,257,433,255,250,252,247,253,249,308,256,254],"class_list":["post-342016","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-eurusd","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-technical-analysis","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/342016","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=342016"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/342016\/revisions"}],"predecessor-version":[{"id":342018,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/342016\/revisions\/342018"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/5276"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=342016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=342016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=342016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}