EUR/USD neutral, eyes on 1.1445 – UOB

In view of FX Strategists at UOB Group, the pair’s stance remains neutral in the near term.

Key Quotes

“EUR traded sideways as expected albeit at a narrower range than anticipated. The consolidation phase appears incomplete and further range trading is expected, likely between 1.1370 and 1.1420”.

“There is not much to add as EUR traded within a relatively narrow range of 1.1380/1.1417 yesterday. While upward momentum is beginning to wane, another push higher to move clearly above the major 1.1445 resistance is not ruled out just yet. This scenario still appears likely as long as 1.1340 is intact. That said, unless we see a move higher within these 1 to 2 days, the odds for further EUR strength would diminish quickly”.