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Outlook for EUR/USD still bearish - UOB Group

FXStreet (Łódź) - The Market Strategy Team at UOB Group suggest that EUR/USD should continue sliding, despite the rebound to 1.2560 levels from the overnight low of 1.2545.

Key Quotes

"As indicated in yesterday’s update, 1.2550 is a solid support and the strong rebound from the overnight low of 1.2545 is not surprising."

"However, the outlook is still bearish and we continue to expect the key resistant at 1.2730 to hold for EUR to eventually move lower towards the early October low of 1.2500."

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