EUR/USD stays neutral below 1.0840 – UOB

In view of FX Strategists at UOB Group, the pair’s outlook remains on the neutral side while below 1.0840.

Key Quotes

“EUR hit a high of 1.0828 yesterday but eased off quickly”.

“As highlighted in recent updates, despite the generally positive undertone, EUR has to close above 1.0840 to indicate the start of a bullish phase”.

“This scenario is not ruled out just yet but the prospect for such a move has dimmed considerably”.

“On the downside, a clear break below 1.0730 would indicate that the positive undertone has eased and this pair is then likely to trade sideways within a broad range”.