- EUR/USD needs to surpass the 1.18 level to change the downtrend - OCBC
Market news
25 August 2021
EUR/USD needs to surpass the 1.18 level to change the downtrend - OCBC
FXStreet reports that economists at OCBC bank see the EUR/USD pair's recent race higher as a correction rather than a trend change.
“EUR/USD failed to make clear headways from the 1.1750 zone, leaving the downtrend still intact.”
“The pair will need to clear the 1.1800 zone to reverse downside bias.”
“We continue to view the bounce as a correction rather than a trend change.”
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