EUR/USD remains under pressure – UOB

In view of FX strategists at UOB Group, EUR/USD is expected to remain under pressure with the likeliness of a drop to the 1.0200 handle.

Key Quotes

“Downward momentum has improved considerably with the unexpected sharp drop yesterday”.

“The immediate pressure is clearly on the downside but only a clear break below 1.0335/40 would indicate that a move towards 1.0200 has started”.

“Overall, EUR is expected stay under pressure unless it can reclaim 1.0490 within these 1 to 2 days”.