EUR/USD faces solid resistance at 1.0500 – UOB – by pabspiovano EURUSD Currencies Majors Banks
is expected to meet a tough resistance at the 1.0500 region in the near term, suggest Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: “EUR traded in a choppy manner yesterday as it plummeted briefly to 1.0288 before reversing sharply and soared to a high of 1.0428. Further EUR strength is not ruled out but the major resistance at 1.0500 is unlikely to come into view today . Support is at 1.0390, followed by a rather strong level at 1.0365.
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