EUR/USD looks firmer and focuses on 1.20 – UOB

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EUR #USD looks firmer and focuses on 1.20 UOB
http://ntvforex.com/news/?id=07c430. . 6 minutes ago . By Pablo Piovano #EUR #USD keeps trading on a constructive bias and looks to a potential visit to the 1.20 region, suggested FX Strategists at UOB Group. Key Quotes 24 hour view We highlighted yesterday that further advance in #EUR would not be surprising but we were of the view that a sustained rise above 1.1965 appears unlikely . While #EUR strengthen as expected, the advance did not quite move above 1.1965 high of 1.1965 . Upward momentum is showing early signs of waning and this coupled with overbought conditions suggests the risk of a sustained advance is not high for today. That said, there is room for #EUR to edge above 1.1965 but barring a clear break of 1.2000, the prospect for a pullback would increase quickly. Support is at 1.1915 followed by 1.1890. Next 1 3 weeks Our latest narrative from last week was that #EUR is still likely in a consolidation phase and only a daily closing ...
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