EUR/USD: UOB's short-term forecast for today (Friday 6)

As it often does, UOB today delivered its intraday forecasts for the EUR/USD:

A neutral view, with a range between 1.0420-1.0620.

"EUR/USD hit a high at 1.0615 yesterday, only a few pips below the high end of the range we identified at 1.0420-1.0620.

This fast and strong bullish reversal induces a positive tone, but we prefer to wait for a clear break above the major resistance level at 1.0650/70 before we position ourselves to buy.

For the next few days, only a move under 1.0520 would indicate that the upward pressure has decreased."