EUR/USD: consolidation ahead of further gains? – UOB

In view of the research team at UOB Group, the pair’s near term bias points to some rangebound trading prior to further advance.

Key Quotes

“As mentioned last Friday, while we turned bullish EUR, the upside potential is likely limited to 1.1245”.

“The current movement is a short-term consolidation and this should lead to an eventual move higher in the next few days. Stop-loss is adjusted higher to 1.1000 from 1.0930”.