Maybank warns of upside risks on EUR/USD in the very short term.
«We should not under-estimate the return of political risk in Europe, which could have a negative impact on EUR.
The recent upward movement is consistent with the caution technique due to because of the downside risks. The momentum daily became more bullish while the stochastic goes back to the conditions of sale. These signals continue to suggest downside risks.
The resistance is at 1.1880 and 1.1930. The materials are 1.1830, 1.1770 and 1.1670. «