EUR/USD: No change to the mixed outlook – UOB

In opinion of FX Strategists at UOB Group, EUR/USD is still seen navigating within the 1.1240-1.1395 range in the next weeks.

Key Quotes

24-hour view: “We expected EUR to ‘edge lower within a range of 1.1265/1.1310’ yesterday, However, EUR rose to 1.1346 before dropping back down quickly. The outlook is mixed and EUR is likely to trade sideways between 1.1280 and 1.1340 for today.”

Next 1-3 weeks: “Our view from Tuesday (04 Jan, spot at 1.1305) still stands. As highlighted, while downward momentum has improved a tad, the outlook for EUR is unclear for now. From here, EUR could trade between 1.1240 and 1.1395.”