EUR/USD trades at 1.1275 after oscillating around 1.13 yesterday, which signals a consolidative mode. Terence Wu, an FX strategists at OCBC Bank, expects the shared currency to range between 1.1260 and 1.1330.
See:
- EUR/USD: Diminishing bets for a move to 1.1390 – UOB
- EUR/USD: Seen at 1.14 on a 3 month view – Rabobank
Key quotes
“The EUR/USD entered into a consolidative range on Monday, keeping close to the 1.1300 mark on either side.”
“The short-term implied valuations are sliding slowly, but the positive posture is unshaken for now.”
“Expect the pair to play the range between 1.1260 and 1.1330 in the interim.”
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