EUR/USD neutral, points to further rangebound – UOB

EUR/USD is expected to extend its current consolidative theme in the next 1-3 weeks, suggested analysts at UOB Group.

Key Quotes

“The current movement in EUR is viewed as part of a consolidation phase. Neutral indicators suggest further sideways trading, likely between 1.1205 and 1.1270”.

“The recent build-up in momentum fizzled out quickly as EUR pulled back after failing to stay above the 1.1300 resistance. The neutral phase that started early last week is still intact and we expect this pair to continue to trade listlessly, likely between 1.1150 and 1.1330”.