EUR/USD still risks a test of 1.0525 – UOB

The perspective for EUR/USD remains neutral in the near term, while a new visit to 1.0525 is not ruled out.

Key Quotes

“EUR edged below last Friday’s 1.0578 low to touch 1.0568 before recovering quickly”.

“As indicated yesterday, the immediate pressure is still on the downside and we continue to expect a move lower towards 1.0525”.

“That said, downward momentum is not as impulsive as preferred and it may take a couple of days before 1.0525 could be seen. On the upside, resistance is at 1.0630 but only a move back above 1.0665 would indicate that the immediate downward pressure has eased”.