In view of the research team at UOB Group, the pair’s outlook points to further consolidation in the next 1-3 weeks.
Key Quotes
“There is not much to add as we continue to hold a neutral view for USD”.
“However, this pair is approaching the lower end of the expected 112.50/114.55 range and we must highlight that a daily closing below 112.50 would indicate the start of a bearish phase”.
(Market News Provided by FXstreet)
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