EUR/USD keeps the constructive tone above 1.0500 – UOB

In view of FX Strategists at UOB Group, EUR/USD should stick to its positive stance while above the 1.0500 handle.

Key Quotes

“There is no change to the current view wherein we expect EUR to remain supported in the short-term as long as 1.0500 is intact”.

“However, it is unclear at this stage if EUR can move higher in a sustained manner even though technically, the next significant resistance above last week’s peak of 1.0684 is at the 1.0872 high seen in early December”.