EUR/USD bullish above 1.1365 – UOB

In opinion of the research team at UOB Group, a close above 1.1365 could allow further gains in EUR/USD.

Key Quotes

“While the strong opening and subsequent rally early this morning appears incomplete, a sustained up-move is likely only if EUR can clear the major 1.1365/70 resistance (next resistance is at 1.1415)”.

“While the break above 1.1330 earlier bodes well for EUR, confirmation of a bullish phase is only upon a daily closing above 1.1365 (falling trend-line resistance). The odds for such move appear to be quite high unless there is a move back below 1.1250 from here”.