FXStreet – The perspective for the currency pair remains in short term neutral. The FX strategists of the Japanese UOB Group expect a consolidation between 1,0800 and 1,0950.
The strong rate of levies of the Euro in the past few days, the first signs of slowing. This, together with the oversold conditions of the market suggests that further price losses in the short term is unlikely. We would allow the currency pair, a Price pullback on 1,0835, but the psychological mark of 1,0800 should hold and a recovery to at least 1,0895/00.
The under the brand 1.0900 progress is signalled on Tuesday that the Euro has formed a short-term High at 1,1023. The current price movement is regarded as the starting point of a consolidation phase and the Euro is now are most likely to first sideways between 1,0800 and 1,0950.
** FXStreet News Editorial, FXStreet**