FX Strategists at UOB Group noted the pair stays poised to extend the consolidative theme in the next weeks. Key Quotes 24-hour view: “We expected the recovery in USD to “extend to 110.40″ yesterday. In line with expectation, USD moved higher and touched 110.44 before ending the day on a firm note. While upward momentum is not exactly strong, the current recovery has room to extend further to 110.65. At this stage, a clear break above 110.65 seems unlikely (next resistance is at 110.90). On the downside, support is at 110.10 but the stronger level is at 109.85″. Next 1-3 weeks: “In a last update on 14 Jun (spot at 110.25), we held the view that USD has room to move higher and ‘test’ the 111.00 resistance. USD subsequently touched a high of 110.90 but has since eased off. From here, there is no change to the neutral outlook and USD has likely moved into a broad consolidation phase and is expected to trade sideways to lower, likely between 109.10 and 110.65″. 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 EUR/CHF seen at 1.22 in 12-month – Danske Bank FX Street 4 years FX Strategists at UOB Group noted the pair stays poised to extend the consolidative theme in the next weeks. Key Quotes 24-hour view: "We expected the recovery in USD to "extend to 110.40" yesterday. In line with expectation, USD moved higher and touched 110.44 before ending the day on a firm note. While upward momentum is not exactly strong, the current recovery has room to extend further to 110.65. At this stage, a clear break above 110.65 seems unlikely (next resistance is at 110.90). On the downside, support is at 110.10 but the stronger level is at 109.85". Next 1-3… Top 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.
