EUR/USD sidelined in a 1.1150/1.1330 range – UOB

In view of the research team at UOB Group, EUR/USD could extend its consolidative theme between 1.1150 and 1.1330 in the next 1-3 weeks.

Key Quotes

“The strong 1.1200 support remains intact as EUR rose to a high of 1.1273 before easing off”.

“Despite the pull-back from the high, the undertone is still slightly positive and a retest of 1.1275 would not be surprising even though a move beyond the strong 1.1300 resistance seems unlikely”.

“EUR continues to trade listlessly and the neutral phase that started early last week is still intact. We continue to expect EUR to trade sideways from here, likely within a 1.1150/1.1330 range”.