EUR/USD (UOB) : The consolidation of the Euro on the Forex and this could continue today

The consolidation of EUR/USD may continue to occur on the Forex in the very short term according to UOB

«EUR/USD posted a narrow range of 40 pips on the session yesterday before closing without much change.

The indicators are neutral continue to suggest a continuation of the consolidation for the moment.

While a break clear under the 1.1660 is not excluded, the recent downward pressures are starting to show signs of weakening. A movement above the 1.1780 would suggest that 1.1667 is a low short-term and EUR/USD entered in a consolidation phase. «

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