FXStreet – The FX strategists of the Japanese UOB Group, remain bullish on the currency pair, even if the Momentum for a Test of the brand of 1,1300 in the short-term run.
The objective of the course, which was yesterday at 1,1235/40, was outbid. The Euro jumped to a High of 1,1263. The upward movement now appears to be overheated, but a Retest of 1,1260/65 would not be surprising. The next key resistance would be at 1.1300 (November high) and should initially be challenged. Supports now lie at 1,1195 and 1,1160.
** FXStreet News Editorial, FXStreet**