EUR/USD faces further consolidation near term – UOB – by pabspiovano EURUSD Currencies Majors Banks
24-hour view: “We highlighted last Friday that ‘there is scope for EUR to weaken further but any decline is likely part of a lower trading range of 1.0565/1.0655’. EUR subsequently traded in a quiet manner between 1.0586 and 1.0638. The price actions appear to be part of a consolidation phase. Today, we expect EUR to trade sideways within a range of 1.0585/1.0650.”
Next 1-3 weeks: “There is not much to add to our update from last Friday . As highlighted, instead of rebounding further, EUR is likely to consolidate and trade between 1.0530 and 1.0700 for now.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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