EUR/USD bullish, targets 1.1145/1.1200 – UOB

The FX research tem at UOB Group sees the outlook on EUR/USD on the bullish side, with the next target in the 1.1145/1.1200 band.

Key Quotes

“The range of 1.1057/1.1126 yesterday was close to the expected sideway consolidation indicated at 1.1060/1.1130. The current consolidation phase appears incomplete and further range trading is expected, likely within a slightly lower range of 1.1045/1.1120”.

“We turned bullish EUR yesterday (see Chart of the Day update) and there is no change to the view. The current movement is deemed as a short-term consolidation phase that may last for a couple of days. As long as 1.1000 is intact, the prospect of a move beyond 1.1145 still appears to be quite high”.

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