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- EUR/USD to plummet towards 1.08 on a break below key support at 1.0950 – OCBC
EUR/USD to plummet towards 1.08 on a break below key support at 1.0950 – OCBC
From the EUR/USD’s perspective, the optimism on the geopolitical front from last week has well and truly faded by now. A break under the 1.0950 mark would open up additional losses toward the 1.08 level, economists at OCBC Bank report.
Potential further sanctions on Russian coal and oil will be EUR-negative
“Potential further sanctions on Russian coal and oil will be EUR-negative, only because it hurts Europe as much as it does Russia.”
“1.0950 will be the key support to watch for, below which the 1.0800 may be a multi-session target.”
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