20 Mar 2015
EUR/USD to consolidate – UOB
FXStreet (Barcelona) - Analysts at UOB Group, remain neutral on EUR/USD, expecting the pair to consolidate in the 1.0550/1.0910 range.
Key Quotes
“Despite surging to a high of 1.1035 after FOMC’s announcement, EUR reversed sharply from the peak and in the process took out the key short-term support at 1.0640.”
“This essentially means that the build-up in the upward momentum has dissipated and the outlook for the next couple of weeks is very mixed.”
“While longer-term view for EUR is still bearish, this pair is expected trade in a neutral 1.0550/1.0910 consolidation phase for now.”
Key Quotes
“Despite surging to a high of 1.1035 after FOMC’s announcement, EUR reversed sharply from the peak and in the process took out the key short-term support at 1.0640.”
“This essentially means that the build-up in the upward momentum has dissipated and the outlook for the next couple of weeks is very mixed.”
“While longer-term view for EUR is still bearish, this pair is expected trade in a neutral 1.0550/1.0910 consolidation phase for now.”