EUR/USD: Decisive break above 1.0930 could usher in greater momentum toward 1.1030 – OCBC EURUSD Banks
retreated slightly after having climbed above 1.0900 on Monday. A sustained break above 1.0930 would clear the way toward 1.1030, economists at OCBC Bank report.“EUR reversed its earlier losses overnight amid USD softness. But the rise above 1.09-handle was stalled in its tracks again. This is the fourth time in two weeks that EUR’s rally had stalled at again.”
“Bullish momentum on daily chart intact though there are tentative signs of it easing while RSI fell.”“Key resistance remains at 1.0930 . Decisive break above could usher in greater momentum towards 1.1030 .”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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