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- EUR/USD sticks to the consolidative phase – UOB
EUR/USD sticks to the consolidative phase – UOB
FXStreet reports that FX Strategists at UOB Group see EUR/USD navigating within the 1.1680-1.1800 range in the next weeks.
Next 1-3 weeks: “EUR closed on a firm note last Friday (09 Oct) but gave up most of its gains yesterday (13 Oct) as it dropped sharply by -0.58% (1.1744), its biggest 1-day drop in about 2 months. The failure to maintain a foothold above 1.1820 coupled with the sharp drop yesterday indicates that EUR is still trading in a consolidation phase. In other words, EUR could trade between the two major levels of 1.1680 and 1.1820 for a while a more. That said, shorter-term downward momentum has improved and a test of 1.1680 would not be surprising.”
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