Door open for a move to 1.1695. – UOB

 EUR / USD risk of a decline to 1.1695 level over the coming weeks, suggested FX strategists at UOB Group.

The market prediction is according to DailyForexTrading.

24 times view: “The sudden sharp decrease of EUR who sent him plummeting to a low of 1.1730 was a surprise (closed at 1.1769, -0.57%). While the rapid decline appears overrated, there is no sign of stabilization for now. From there, it is possible to EUR dipping to 1.1720 before the current weakness should stabilize. Resistance is at 1.1790 followed by 1.1815 “.

Next 1-3 weeks: “In our last story last Friday (September 18 up to 1.1850), we had the idea that” there is still a chance, but decreased to EUR a stage other attempt to close below 1.1750. That said, the sudden sharp decline yesterday (21 September) was not exactly as planned EUR recorded a loss of -0.57% and closed down six weeks of 1.1769. Although EUR did not close below 1.1750, the rapid improvement of the downward trend suggests EUR may weaken further towards the next major support at 1.1695. A break of this level would indicate the beginning of September 1.2011 high could remain in place for a long period of time. Overall, EUR should remain under pressure unless it can move above the level “of the strong resistance 1.1855”.

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