FX Strategists at UOB Group noted the pair sticks to its neutral stance and has moved into a consolidative theme. Key Quotes 24-hour view: “We expected the rebound in EUR “to test the 1.1645/50 resistance” last Friday but indicated that “a move beyond the next resistance at 1.1680 is not expected”. EUR subsequently hit a high of 1.1675 before ending the day of on a firm note (NY close of 1.1656). The undertone has improved and from here, further extension to 1.1700 would not be surprising. That said, the next resistance at 1.1720 is unlikely to come into the picture, at least not for today. On the downside, only a move back below 1.1605 would indicate that the current upward pressure has eased (minor support is at 1.1630)”. Next 1-3 weeks: “Our recent view that EUR “is not ready to reenter a bearish phase just yet” was proven right as it staged a strong up-move last Friday and hit a high of 1.1675. While this level was just below the ‘key resistance’ at 1.1680, the subsequent strong daily closing is enough to indicate that the recent downward pressure has eased. However, there is no change to the neutral outlook but EUR has likely moved into a consolidation range and is expected to trade sideways within a 1.1550/1.1750. On a shorter-term note, the positive bias suggests that EUR is more likely to test the top end of the range first”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Germany: IFO takes another hit in June – ING FX Street 5 years FX Strategists at UOB Group noted the pair sticks to its neutral stance and has moved into a consolidative theme. Key Quotes 24-hour view: "We expected the rebound in EUR "to test the 1.1645/50 resistance" last Friday but indicated that "a move beyond the next resistance at 1.1680 is not expected". EUR subsequently hit a high of 1.1675 before ending the day of on a firm note (NY close of 1.1656). The undertone has improved and from here, further extension to 1.1700 would not be surprising. That said, the next resistance at 1.1720 is unlikely to come into the picture,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.