EUR/USD keeps the neutral stance near term – UOB

In view of analysts at UOB Group, EUR/USD should keep the consolidative theme in the next 1-3 weeks.

Key Quotes

“As highlighted yesterday, despite the improved shorter-term indicators, it is not enough to suggest the start of a sustained up-move in EUR”.

“From here, as long as 1.1100 can hold, another attempt to move higher towards 1.1250 is not ruled out even though the prospect for such a move has dimmed after the quick pull-back yesterday”.

“Overall, the neutral phase remains intact and only a clear break out of the expected 1.1020/1.1250 sideway trading range would indicate the start of a sustained directional move”.