FXStreet reported Nov. 3 that United Overseas Bank expects EUR/USD to trade within a 1.1160–1.1220 band for 24 hours, with a move under 1.1135 testing its recent positive euro stance.
The report attributed the levels to UOB senior technical strategist Quek Ser Leang and strategist Sue Ann Lee. It said the 1.1135 level applied to a one-to-three-week view: a clear move below it would cast doubt on the timing of the analysts’ shift toward a positive euro outlook.
The pair touched 1.1237 during London trading on Monday before easing. FXStreet put its close at 1.1185, a 0.24% rise, while Investing.com’s daily series records the same high and a 1.1187 close, up 0.27%. The sources therefore differ on the session’s closing level and percentage move.
UOB’s research archive records an Oct. 30 FX Insights note based on a spot level of 1.1190. It described 1.1220 as a possible rebound point and said a close above that level could bring 1.1250 into view. An Oct. 19 chart review identified 1.1112 as a possible bottom to the decline since early September and said a recovery could take EUR/USD above its 21-day exponential moving average, then at 1.1280.
FXStreet’s account of Friday, Oct. 30, put EUR/USD between 1.1136 and 1.1214, with a close at 1.1158 after a 0.18% decline. Investing.com lists a 1.1136 low, a 1.1215 high and a 1.1160 close for that date, also down 0.18%.
The latest assessment follows an earlier FXStreet-reported UOB view that put 1.1150 as a nearer-term downside reference and 1.1135 in play over one to three weeks if EUR/USD stayed below 1.1220. EconoTimes previously covered that earlier UOB assessment.
