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.
“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)