EUR/USD risks a squeeze higher – UOB

By FXStreet FXStreet (Edinburgh) – Strategists at UOB Group still believe the pair could attempt a squeeze higher in the next weeks.

Key Quotes

“In line with our expectations, EUR traded mostly sideways for the whole of last week”.

“That said, short-term upward momentum is picking up and the current consolidation will be likely resolved by a move higher in EUR”.

“However, only a daily closing above the major 1.0990/95 resistance would indicate the start of a bullish phase”.

“Overall, unless there is a move back below 1.0800 in the next few days, the risk is clearly greater on the upside”.
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Source:: FX Street