The research team at UOB Group sees the pair extending its consolidative pattern between 1.09 and 1.11 in the next 1-3 weeks.
Key Quotes
“EUR traded to a low of 1.0944 before rebounding quickly to close almost unchanged for the day. Short-term outlook remains mixed and from here, further range trading is likely for today”.
“EUR is still trading in an undecided manner and we reckon ECB will determine whether we break below 1.0900 or above 1.1100. The outlook is finely balanced”.
(Market News Provided by FXstreet)
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