Forex Strategists UOB Group, Lee Sue Ann and Quek Ser Leang, noted that the EUR/USD remain within the range of 1.0100-1.0285 in the coming weeks.
24 hour outlook: “Yesterday we highlighted that there was room for the euro to advance further, but a sustained rise above 1.0250 seemed unlikely. However, the euro stopped short of threatening 1.0250, falling from 1.0234 to 1.0112 before rising again and end the day little changed at 1.0196 (0.06%) Price moves appear to be part of a consolidation phase and the euro is likely to trade today between 1.0135 and 1.0235“.
Next 1-3 weeks: “There is not much to add to our update from yesterday (July 28, pair at 1.0205). As we have highlighted, the current movement of the euro seems to be part of a consolidation and is likely to trade between 1.0100 and 1.0285 for now.”
Source: Fx Street
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