EUR/USD Neutral Near-Term – UOB
In opinion of analysts at UOB Group, the pair’s outlook remains neutral in the next 1-3 weeks.
Key Quotes
“EUR
held above the crucial support indicated at 1.1325/30 last Friday (low
of 1.1347). The downside pressure appears to have eased with the
recovery from the low and the current up-move could extend higher to
retest last week’s high near 1.1450/53”.
“We have held a neutral
view for more than 2 weeks and there are no signs that the current
consolidation phase is about to end soon. In other words, we continue to
expect this pair to trade between 1.1330 and 1.1495 for now”.
(Market News Provided by FXstreet)
