EUR/USD: UOB back to bull position in short term, aims for 1.12

UOB has returned to a long forex position on the EUR/USD in the short-term, targeting a move towards 1.12.

"We turned long again yesterday. The current movement is considered to be a short-term consolidation phase that can last a few days. As long as 1.1000 is intact, the prospects for a move above 1.1145 still seem important."

UOB holds a long position on the GBP/USD and NZD/USD.