According to FX Strategists at UOB Group, EUR/USD keeps the neutral bias and is expected to trade within the 1.1170/1.1380 range in the short-term. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is room for EUR to edge nearer to 1.1290’. We added, ‘1.1330 is unlikely to be challenged’. EUR subsequently rose to a high of 1.1302 before dropping back quickly (overnight low of 1.1221). While downward momentum has hardly improved, EUR could drift lower towards 1.1210 from here (next support is at 1.1170). For today, a sustained decline below this level is not expected. Resistance is at 1.1265 followed by 1.1290.” Next 1 -3 weeks: “Looking back, we called for a short-term top on 12 Jun when EUR was trading at 1.1280 and expected EUR to trade between 1.1170 and 1.1380. When EUR moved towards 1.1170, we highlighted that EUR “has to close below 1.1170 before a more sustained weakness can be expected”. The rapid manner by which EUR rebounded from 1.1183 yesterday (01 Jul) suggests that EUR is not ready to move below 1.1170. To look at it another way, EUR could continue to trade between 1.1170 and 1.1380 for a while more.” 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 PBOC to cut Loan Prime Rate in July – China Press FX Street 3 years According to FX Strategists at UOB Group, EUR/USD keeps the neutral bias and is expected to trade within the 1.1170/1.1380 range in the short-term. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is room for EUR to edge nearer to 1.1290’. We added, ‘1.1330 is unlikely to be challenged’. EUR subsequently rose to a high of 1.1302 before dropping back quickly (overnight low of 1.1221). While downward momentum has hardly improved, EUR could drift lower towards 1.1210 from here (next support is at 1.1170). For today, a sustained decline below this level is not expected. Resistance is at 1.1265… 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.
