EUR/USD further rangebound likely – UOB

The research team at UOB Group suggested that further consolidation is expected in EUR/USD, likely between 1.1120 and 1.1290 for the next weeks.

Key Quotes

“EUR traded in a tight 40 pips range between 1.1203 and 1.1243 yesterday. Indicators are mostly flat which suggest further range trading for today, likely within a 1.1190/1.1240 range”.

“Most indicators are flat and there is no change to the current neutral view for this pair. Further directionless trade is expected, likely within a 1.1120/1.1290 range”.