EUR/USD: Range trading expected – UOB Group

EUR/USD is anticipated to trade within a range of 1.1920 to 1.2020 following a sharp pullback. The recent price movements indicate a potential range-trading phase after EUR dropped to a low of 1.1895 and closed at 1.1952, report UOB Group analysts Quek Ser Leang and Lee Sue Ann.

EUR/USD range outlook

"EUR is likely to trade in a range between 1.1920 and 1.2020."

"The current price movements are likely part of a range-trading phase."

"Only a breach of 1.1890 would indicate that the sharp rise from the middle of last week is ready to take a breather."

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)