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UOB discusses the possibility of a market trough on EUR / USD in the short term.
"EUR / USD hit a 2-week low at 1.1264, before Powell's comments sent it near 1.14.
The 1.1370 resistance break indicates not only that bearish pressures have eased, but also significantly increase the risk of a near-term low of 1.1264.
A clear break of 1.1400 "would confirm" that EUR / USD had a short-term trough of 1.1264, and that the pair would move above that level in the next few weeks.
This scenario would not be surprising until EUR / USD falls below 1.1290. "
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