FXStreet – The perspective for the currency pair remains bullish. It could reach in the short term, the 115,50, explained by the FX strategists of the Japanese UOB Bank.
While the strong USD rally has further room has, the overbought market conditions to conclude that the increase is now expected to slow. The next major resistance is found at 114,80, and should not be so easy to overcome.
We had noted on Tuesday that with a daily closing price over 113,50, the perspective of the USD will change to bullish. This condition was fulfilled with the New York closing price at 113,95 on Tuesday. Our goal is now 114,90 followed by 115,50. The Stop-Loss on 113,30.
** FXStreet News Editorial, FXStreet**