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Forex pairs in this Article » EUR/USD
FXStreet (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group expects immediate EUR/USD weakness towards 1.3400 but feels that a clear break appears unlikely.

Key Quotes

“The sharp drop from late last week appears incomplete and extension lower is likely. However, downward momentum is not strong and any further down-move will likely struggle to move below the strong mid-term support at 1.3400.”

“In other words, expect immediate weakness but any drop is likely part of a wider consolidation range and acceleration lower appears unlikely for now. Strong resistant is at 1.3620 followed by 1.3665.”

“Supports: 1.3460, 1.3400. Resistants: 1.3620, 1.3665.”
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