EUR/USD: 1.0800 an immediate target before 1.0750 – OCBC

The EUR/USD continued to lift higher on Monday, but found limited traction above 1.0850. Terence Wu, an FX strategist at OCBC bank, is still expecting a slow grind lower.

Key quotes

“Overall, we remain negative on the EUR/USD pair, expecting little further upside from here.” 

“Expect firmer resistance at 1.0900, a level that needs to be broken before the pair can overcome its downside bias.” 

“Target 1.0800 as an immediate target, before 1.0750.”