EUR/USD still neutral near term – UOB

EUR/USD remains in a neutral perspective in the short term, likely between the 1.0555/1.0700 range.

Key Quotes

“Against our expectation for a move lower, EUR traded mostly sideways to slightly higher and closed on a positive note. The positive undertone could lead to further upside extension but at this stage, a sustained move above 1.0700 seems unlikely (minor resistance is at 1.0680)”.

“There is not much to add as EUR rebounded quickly after hitting a low of 1.0600 yesterday. Indicators are mostly flat and we continue to expect this pair to trade between 1.0555 and 1.0700, at least for another few more days”.