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21 Jan 2016
EUR/USD rangebound still prevails – UOB
FXStreet (Edinburgh) - The research team at UOB Group has reiterated its neutral perspective on the pair in the near-term.
Key Quotes
“The recent build-up in the short-term upward momentum fizzled out with the rapid drop from the high of 1.0975 yesterday”.
“It appears that EUR is still trapped within a 1.0800/1.0990 range for now”.
“That said, the current neutral phase that started about two weeks ago appears to be close to completion but confirmation of a sustained directional move is only upon a break below 1.0800 or above 1.0990”.
Key Quotes
“The recent build-up in the short-term upward momentum fizzled out with the rapid drop from the high of 1.0975 yesterday”.
“It appears that EUR is still trapped within a 1.0800/1.0990 range for now”.
“That said, the current neutral phase that started about two weeks ago appears to be close to completion but confirmation of a sustained directional move is only upon a break below 1.0800 or above 1.0990”.