EUR/USD: 1.2300 is key resistance, offered below towards 1.2153 - UOB Group
|In respect to the euro, analysts t UOB Group explained that the “pressure has shifted to the downside”.
Key Quotes:
"From here, the focus has shifted to last month’s 1.2153 low and based on the vastly improved downward momentum, the odds for a break of this level have increased considerably."
"A clear break of this level would suggest that EUR is ready for much deeper down-move in the weeks ahead. In the meanwhile, only a break back above 1.2300 (‘key resistance’ was at 1.2355 yesterday) would indicate that a short-term low is in place."
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