UBS: EURUSD from spot trader

From the FXWW Chatroom: Draghi surly appeared more hawkish than intended and as EURUSD traded through 1.1270 and lost the “magnetic” tires to 1.1200 there was no looking back.
The rally has been additionally fuelled by the selloff in the Greenback on the back of the delay in the US health-care vote and the added concerns about President Trump’s ability to endorse policy changes.
I’d look to buy on dips back towards 1.1310/20 and doubt we see 1.1270 again in the foreseeable future.
Support 1.1300, 1.1270, 1.1250 – resistance 1.1400, 1.1430, 1.1500.

View the latest market information in the FXWW Chatroom with a free trial.

Leave a Reply