EUR/USD clings to the neutral stance – UOB

In view of FX Strategists at UOB Group, the pair’s outlook stays neutral in the short term.

Key Quotes

“As noted yesterday, the short-term bias is tilted to the downside and a move below the expected 1.0580/1.0750 consolidation range would not be surprising”.

“That said, based on the current momentum, any decline is expected to struggle to move below last week’s low at 1.0520”.

“Only a ‘clear and clean’ break below 1.0520 would indicate that a move towards 1.0400 has started. Resistance is at 1.0640 but the key level to monitor for the next several days is at 1.0670 (stabilization only above this level)”.