EUR/USD: the euro could consolidate, but it still has a short-term bullish bias (UOB)

UOB maintains a bullish bias on the EUR/USD in the short term.

"The EUR/USD moved quite calmly before ending the session slightly higher (closing at 1.1383).

As underlined yesterday, recent upward pressure has eased and the EUR/USD could consolidate for the time being.

The majority of short-term technical indicators are now neutral.

The bias that will follow this phase of consolidation remains bullish, but 1.1475/1.1500 acts as a strong resistance level, and it could take several sessions to break through it."