According to UOB’s report, authored by Quek Ser Leang and Lee Sue Ann, the Euro is expected to continue consolidating, likely between the 1.1775 and 1.1830 levels. The report notes that the previous expectations for consolidation were met, although within a narrower range than anticipated. The downside risk for the Euro remains, with potential support identified at 1.1725.<\/p>\n
\u00abYesterday, we expected EUR to \u201cconsolidate between 1.1790 and 1.1855.\u201d Our view of consolidation was not wrong, even though EUR traded within a narrower range than expected.\u00bb<\/p>\n
\u00abPrice action continues to suggest downside risk for EUR, and it could drop toward the next support at 1.1725.\u00bb<\/p>\n
\u00abOverall, only a breach of 1.1875 (\u2018strong resistance\u2019 level was at 1.1890 yesterday) would indicate that the downside risk from early this week has faded.\u00bb<\/p>\n
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":" According to UOB’s report, authored by Quek Ser Leang and Lee Sue Ann, the Euro is expected to continue consolidating, likely between the 1.1775 and 1.1830 levels. The report notes that the previous expectations for consolidation were met, although within a narrower range than anticipated.<\/p>\n","protected":false},"author":2,"featured_media":47156,"template":"","news_category":[107],"class_list":["post-47155","news_analysis","type-news_analysis","status-publish","has-post-thumbnail","hentry","news_category-latest-news"],"acf":[],"yoast_head":"\n