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EUR / USD Neutral In Short Term, Probably Between 1.1180 And 1.1235 - UOB

Forex strategies in the UOB Group are being neutral in the short-term pair, expecting it to trade within 1.1180 and 1.1235 in the past few weeks.

Key Quotes

"The" target back "is 1.1175 indicated yesterday was not met and that the EUR rebounded quickly after touching a minimum of 1.1183. The post price action has led to a mixed outlook and wait 1. The expected range for EUR/USD 1.1180 / 1.1235 holes, a clear range break could result in a rapid movement. The support and resistance are at 1.1130 and 1.1270 respectively.

"Despite the recent price action, we also believe there is room for the real decline in the EUR to extend further down. However, the increase in the trend line of support has moved more with time and currently stands at 1.1130. This is a fairly strong stand, but a break of this level will increase the odds of a move below 1.1105 / 10 the minimum seen in late May 1.1265 / 70. In a short run, 1.1235 Is already a strong resistance. "