The EUR/USD will likely struggle to go upside and trade in a 1.0550-1.0630 range today, ahead of Italy's national referendum on the weekend and the ECB's monetary policy meeting (Dec. 8), says Akira Moroga, manager of forex products group at Aozora Bank. "It would not be a surprise" to see the EUR/USD (now at 1.0610) to touch 1.03 in the near term, if the pair falls below 1.05. But a further decline through the USD's strength since U.S. Election Day on Nov. 8 is unlikely, he says. He adds that the common currency is unlikely to reach parity with the greenback in the next several months.
