EUR/USD constructive above 1.0500 – UOB

FX Strategists at UOB Group noted EUR/USD's outlook remains positive while above the 1.0500 handle.

Key Quotes

“EUR registered an ‘inside day’ last Friday and there is no change to our view wherein we deem the short-term outlook as ‘positive’ as long as the key 1.0500 support 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 is at the 1.0872 high seen in early December)”.