EUR/USD: In a 1.0950-1.1050 range – OCBC

The EUR/USD remains supported, but struggles to find traction above the 1.1000 handle, therefore, analysts at OCBC Bank expect the pair to trade within the 1.950-1.1050 range.

See: Four risks threatening the EUR/USD leg higher

Key quotes

“With topside resistances breached, the bias may be for further upside for now, especially if it can hold north of 1.1030.” 

“For now, we remain sceptical, as the virus recovery plan is still some way from being adopted, and short term implied valuations have started to dip.” 

“Expect a 1.0950 - 1.1050 range for now.”