UOB group FX strategists noted EUR / USD always stay away between 1.0730 and 1.0910.
24 hour view: “Last Friday, we expected the EUR to” consolidate and trade between 1.0780 and 1.0840 “. The EUR then fell to 1.0787, rose to 1.0849 before trading sideways for the rest of the sessions. The indicators are mostly “flat” and the current movement is considered to be part of a consolidation phase. For today, the EUR could continue to trade sideways, probably between 1.0780 and 1.0850. “
Next 1-3 weeks: “We have had the same opinion for more than a week when we indicated last Wednesday (May 06, spot at 1.0835) that the outlook for the EUR is mixed and that it is likely to be trades erratically between 1.0730 and 1.0950. Although there is no change in our opinion, the daily ranges for the past few days have been relatively narrow and from there, a range of 1.0730 / 1.0910 may be sufficient to contain the movement. in EUR for a while longer. “