EUR/USD bearish, targets 1.0950 – UOB

The research team at UOB Group keeps the bearish note on EUR/USD and sees it slipping towards the mid-1.0900s.

Key Quotes

“In line with expectation, EUR extended its decline and is currently hovering just above the 1.1000 support (overnight low of 1.1001). While a move below 1.1000 would not be surprising, the next major support at 1.0950 is probably out of reach, at least for today”.

“We just turned bearish EUR yesterday and there is no change to the view. The immediate target is at 1.0950 followed closely by the 1.0910 low seen on the day of Brexit”.