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EUR/USD: Downside risk for EUR has increased - UOB Group | FXStreet
The Euro (EUR) faces increased downside risk, potentially dropping below 1.1645, with significant support at 1.1610 if conditions worsen, according to UOB Groups analysis.
- UOB Groups FX analysts, led by Quek Ser Lea, indicate that the Euro (EUR) could decline below 1.1645 amid current oversold conditions.
- If the Euro (EUR) breaks below the 1.1645 mark, it may threaten the critical support level at 1.1610, indicating a bearish trend.
- The analysis suggests that the overall downside risk for the Euro (EUR) has increased significantly in the longer term, impacting currency trading strategies.
Why It Matters
Understanding the potential decline of the Euro (EUR) is crucial for investors and businesses engaged in European markets, as fluctuations can affect trade, investment decisions, and economic forecasts.