- Analytics
- News and Tools
- Market News
- EUR/USD keeps the range bound theme unchanged – UOB
EUR/USD keeps the range bound theme unchanged – UOB
There is still scope for EUR/USD to trade within the 1.0625-1.0785 range in the next weeks, suggested FX Strategists at UOB Group Lee Sue Ann and Quek Ser Leang.
Key Quotes
24-hour view: “We held the view yesterday that EUR ‘is likely to edge lower but a sustained drop below 1.0650 is unlikely’. Our view was not wrong as EUR dropped to 1.0650 before rebounding to close little changed at 1.0699 (0.05%). Downward pressure has eased and EUR is likely to trade sideways for today, expected to be within a range of 1.0665/1.0725.”
Next 1-3 weeks: “Our view from yesterday (07 Jun, spot at 1.0695) still stands. As highlighted, the recent build-up in upward momentum has fizzled out and EUR is not ready to move above 1.0800 just yet. Overall, EUR is likely trade 1.0625 and 1.0785 for now.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
