Euro faces downside risks toward key supports against US Dollar – UOB
UOB analysts Quek Ser Leang and Lee Sue Ann see EUR/USD consolidating near 1.16 with flattening intraday momentum indicators, but the broader bias remains tilted to the downside, highlighting risks toward key support levels.
EURUSD
UOB’s Quek Ser Leang and Lee Sue Ann note that EUR/USD is consolidating near the 1.16 level. Intraday momentum indicators are flattening, yet the broader bias remains tilted to the downside, with downside risks building toward key support levels.
The analysts emphasize that while near-term consolidation may persist, the overall outlook favors a bearish bias for the euro against the U.S. dollar.
Source: FXStreet Forex News