EUR/USD to trade in 1.1120-1.1375 range according to UOB.

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The research team specialists at UOB Group kept its neutral outlook on EUR/USD for the next couple of weeks.

“We continue to expect this pair to trade in a broad 1.1120/1.1375 range even though the immediate risk appears to be tilted to the downside. A clear break below 1.1120 could lead to a quick drop towards the next support near 1.1055. On a shorter-term note, 1.1280 is already a strong resistance (key resistance is at 1.1375)” written in the report.

As of 02:50 PM EDT the currency pair was trading at 1.1205, which is 0.36% above the previous close.

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