The Euro (EUR) is likely to trade in a sideways range of 1.0710/1.0760, analysts say. UOB Group.
EUR/USD remains on the sidelines
24 hour outlook:”While we expected the EUR to rise yesterday, we considered that ‘any advance is unlikely to break above 1.0760.’ The EUR rose more than expected to 1.0776 before pulling back. The pullback into overbought conditions suggests that the EUR is unlikely to rise further. Today, we expect the EUR to trade in a sideways range of 1.0710/1.0760.”
1-3 WEEKS VIEW: “We continue to hold the same view as yesterday (01 Jul, pair at 1.0735). As highlightedEUR is likely to trade in a range for now, probably between 1.0680 and 1.0785. Notably, the EUR rose towards the top of the expected range, peaking at 1.0776 in London trading before pulling back.
Source: Fx Street
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