EUR/USD Seen Consolidating Before Further Decline: UOB
UOB analysts note that EUR/USD remains under pressure after a brief dip to 1.1416, with consolidation expected before a potential slide against the US dollar.
EURUSD
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann highlight that EUR/USD continues to face downward pressure. The pair briefly dipped to 1.1416 before showing signs of consolidation.
According to the analysts, this consolidation phase is likely a precursor to further declines against the US dollar. No specific targets or timeframes were provided in the note.
The outlook suggests near-term weakness for the euro as the greenback retains its strength.
Source: FXStreet Forex News