The pair should remain within a 1.1380/1.1550 range in the next 1-3 weeks, according to FX Strategists at UOB Group.
“Despite the strong daily closing, we continue to hold a neutral view for this pair. The price action still looks like the early stages of a rising wedge”.
“However, EUR is more likely to trade at a higher 1.1380/1.1550 range instead of the 1.1320/1.1520 expected previously”.
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