FX Strategists at UOB Group remains neutral on the pair and still expect it to advance and test 113.70 in the next weeks. Key Quotes 24-hour view: “We highlighted yesterday, “further USD advance is not ruled out but a sustained break of 113.50 seems unlikely”. USD subsequently rose to a high of 113.38 before staging a surprisingly sharp and rapid pullback. Upward pressure has clearly eased with the swift pullback and the 113.38 high is deemed as a short-term top and is not expected to come into the picture for now. From here, USD is likely to consolidate and trade sideways from here, expected to be between 112.60 and 113.20″. Next 1-3 weeks: “USD touched a 3-1/2 high of 113.38 yesterday before easing off quickly. We continue to see scope for USD to test 113.70 but as highlighted yesterday, it is unclear if any up-move can be sustained. On the downside, a break of 112.60 is enough to indicate that the current upward pressure has eased. All in, the recent whippy price action has clouded the near-term outlook even though on a short-term basis, USD could test 113.70 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 USD/CAD corrects from 7-week tops, retreats below mid-1.3100s FX Street 4 years FX Strategists at UOB Group remains neutral on the pair and still expect it to advance and test 113.70 in the next weeks. Key Quotes 24-hour view: "We highlighted yesterday, "further USD advance is not ruled out but a sustained break of 113.50 seems unlikely". USD subsequently rose to a high of 113.38 before staging a surprisingly sharp and rapid pullback. Upward pressure has clearly eased with the swift pullback and the 113.38 high is deemed as a short-term top and is not expected to come into the picture for now. From here, USD is likely to consolidate and trade… 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.
