EUR/USD: Little traction found below 1.0950 – OCBC

EUR/USD short-term bottom may be in place, according to Terence Wu, an FX strategist at OCBC Bank.

Key quotes

“The EUR/USD breached 1.1100 and 1.1000 in quick succession, but found little traction below 1.0950.”

“Topside momentum is curtailed, but the support levels around 1.0950 to 1.1000 appear firm for now.” 

“Likely to see consolidation around the 1.1000 handle, pending further directionality.”