EUR/USD to tarde broad 1.1120/1.1375 range – UOB

By FXStreet Analysts at UOB Group explained that the break below 1.1200 was not surprising and indicates that the bullish EUR phase that started on the 11 Mar has ended.

Key Quotes:

“While further EUR strength is still expected further out, this is likely only after a period of consolidation.

In other words, the outlook for the next couple weeks is viewed as neutral and we expect this pair to trade within a broad 1.1120/1.1375 range.”
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Source:: FX Street