EUR/USD bullish, targets 1.1430 – UOB

In view of the research team at UOB Group, EUR/USD's upside could extend to the 1.1430 area in the next weeks.

Key Quotes

“The immediate bullish target that was indicated on Wednesday was quickly met as EUR surged to an overnight high of 1.1365”.

“While the outlook is still clearly bullish and the next level to focus on is at 1.1430/35 (high on the day of Brexit), the pace of the current rally appears to be unsustainable and those who are long should look to take some profit on any approach to 1.1430/35”.

“Stop-loss is adjusted higher to 1.1240 even though in order to maintain the current overstretched impetus, any short-term pull-back should ideally stays above 1.1295/00”.