Forex Strategists UOB Group, Lee Sue Ann and Quek Ser Leang, come to the EUR/USD navigating within the 1.0100-1.0285 range in the coming weeks.
24 hour outlook: “Yesterday, the euro fell to a low of 1.0095 before rising rapidly to a high of 1.0220 during the New York session. Although the rapid rise appears to have been overdone, there is room for the euro to rise further. That said, a sustained rise above 1.0250 seems unlikely (next resistance is at 1.0285). The support is at 1.0170followed by 1.0140″.
Next 1-3 weeks: “The euro fell yesterday to a low of 1.0095 before rebounding to close at 1.0202 (+0.87%). The bullish momentum has improved a bit, but the current movement seems to be part of a consolidation phase. It is Euro likely to trade between 1.0100 and 1.0285 for now“.
Source: Fx Street
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