Extra range bound is likely in EUR/USD in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group. Key Quote
in the next few weeks, note Economist Lee Sue Ann and Markets Strategist Quek Ser Leang at UOB Group.24-hour view: Our expectation for EUR to rebound further yesterday did not materialise as it traded between 1.0710 and 1.0764 before closing at 1.0728 . The current price movements are likely part of a consolidation. Today, we expect EUR to trade in a range of 1.0690/1.0760.
Next 1-3 weeks: There is not much to add to our update from Tuesday . As highlighted, the recent EUR weakness has stabilised. From here, EUR is likely to trade in a range, probably between 1.0690 and 1.0820. Looking ahead, if EUR breaks and stays below 1.0690, it will increase the risk of it dropping towards the major support at 1.0635. Information on these pages contains forward-looking statements that involve risks and uncertainties.
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