Eurozone Construction Output s.a (MoM) increased to 0.5% in July from previous -0.8%

The current price movements are likely part of a consolidation phase between 1.1785 and 1.1865. In the longer run, there is still a chance, albeit not a high one for EUR to rise toward 1.1955, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.