EUR/USD to trade the 1.1260-1.1330 range – OCBC

EUR/USD trades at 1.1275 after oscillating around 1.13 yesterday, which signals a consolidative mode. Terence Wu, an FX strategists at OCBC Bank, expects the shared currency to range between 1.1260 and 1.1330.

See:

• EUR/USD: Diminishing bets for a move to 1.1390 – UOB
• EUR/USD: Seen at 1.14 on a 3 month view – Rabobank

Key quotes

“The EUR/USD entered into a consolidative range on Monday, keeping close to the 1.1300 mark on either side.”

“The short-term implied valuations are sliding slowly, but the positive posture is unshaken for now.” 

“Expect the pair to play the range between 1.1260 and 1.1330 in the interim.”