EUR/USD keeps its neutral stance – UOB

The research team at UOB Group has reiterated its neutral perspective for EUR/USD in the near term.

Key Quotes

“EUR rebounded without testing the major 1.1095/00 support. The short-term decline that started from last Friday appears to have stabilized and the current movement is viewed as part of a consolidation phase”.

“EUR traded in a narrow range of less than 50 pips yesterday, the tightest we have seen since Brexit. The outlook in the days ahead remains unclear and we continue to hold a neutral view for now. Only a clear break out of the expected 1.0995/1.1200 range would possibly lead to a sustained directional move”.