EUR/USD still rangebound near term – UOB

Pablo Piovano FXStreet

EUR/USD remains poised to extend the sideline theme between 1.1120 and 1.1290 in the next weeks, suggested analysts at UOB Group.

Key Quotes

“While the strong 1.1265 resistance capped the rebound in EUR as expected (high of 1.1240), the lack of a significant pull-back suggests further upside pressure. From here, as long as 1.1200 is intact, the current short-term EUR strength could grind higher to test 1.1265/70”.

“EUR traded in a range of less than 50 pips last Friday, between 1.1191 and 1.1240. The outlook is still clearly neutral and we continue to expect this pair to trade sideways within a 1.1120/1.1290 range for now”.

1 Week
1 Month
1 Quarter

1 Week

Avg Forecast 1.1234

56% Bullish
44% Bearish
0% Sideways

Bias Bullish

1 Month

Avg Forecast 1.1069

21% Bullish
57% Bearish
21% Sideways

Bias Bearish

1 Quarter

Avg Forecast 1.0961

13% Bullish
73% Bearish
13% Sideways

Bias Bearish

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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