EUR/USD: No changes to the consolidative stance – UOB

Pablo Piovano FXStreet

Markets Strategist Quek Ser Leang and Economist Lee Sue Ann at UOB Group still see EUR/USD trading within the 0.9670-0.9860 range in the next few weeks.

Key Quotes

24-hour view: “Our expectation for ‘the rapid decline in EUR to extend’ was incorrect as it popped to a high of 0.9845 and dropped back quickly to close at 0.9783 (+0.12%). The current price movement is likely part of a broad consolidation range and we expect EUR to trade within a range of 0.9730/0.9830 for today.”

Next 1-3 weeks: “We continue to hold the same view as from yesterday (20 Oct, spot at 0.9760). As highlighted, EUR remains in a broad consolidation range and is likely to trade between 0.9670 and 0.9860 for the time being.”

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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