The pair stays neutral in the short term horizon and could test 107.90 in the next weeks, according to FX Strategists at UOB Group. Key Quotes 24-hour view: “USD traded within a relatively narrow range yesterday and registered an ‘inside day’. Further range trading seems likely from here, expected to be within a 108.35/109.10″. Next 1-3 weeks: “The sharp pull-back from last week’s 111.39 peak is viewed as part of a broader consolidation phase. However, the pullback has room to extend lower towards 107.90. At this stage, a sustained move below this level is not expected. Only a move above the key resistance at 109.60 would indicate that the current downward pressure has eased”. 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 OPEC May oil output falls 70,000 bpd to 32 mln bpd – Lowest since Apr. 2017 FX Street 5 years The pair stays neutral in the short term horizon and could test 107.90 in the next weeks, according to FX Strategists at UOB Group. Key Quotes 24-hour view: "USD traded within a relatively narrow range yesterday and registered an 'inside day'. Further range trading seems likely from here, expected to be within a 108.35/109.10". Next 1-3 weeks: "The sharp pull-back from last week's 111.39 peak is viewed as part of a broader consolidation phase. However, the pullback has room to extend lower towards 107.90. At this stage, a sustained move below this level is not expected. Only a move above… 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.
