EUR/USD is still seen navigating within the 1.1240-1.1395 range in the next weeks.
24-hour view: “We expected EUR to ‘edge lower within a range of 1.1265/1.1310’ yesterday, However, EUR rose to 1.1346 before dropping back down quickly. The outlook is mixed and EUR is likely to trade sideways between 1.1280 and 1.1340 for today.”Next 1-3 weeks: “Our view from Tuesday (04 Jan, spot at 1.1305) still stands. As highlighted, while downward momentum has improved a tad, the outlook for EUR is unclear for now. From here, EUR could trade between 1.1240 and 1.1395.”
EUR/USD slides below 1.1300 despite upbeat Germany data.EUR/USD stays on the back foot in the early European session and trades below 1.1300 as the greenback continues to gather strength on rising US T-bond yields. The data from Germany showed that Factory Orders increased at a stronger pace expected in November but failed to help the shared currency find demand.