EUR/USD: the euro doesn't really offer any new hints right now (UOB)

UOB analysis of the EUR/USD:

Intraday EUR/USD analysis

The EUR reached a new high of 1.1362 on Tuesday before ending the day slightly higher at 1.1349 (+0.12%). The calm price does not offer any new hint and the EUR should continue to move sideways for the time being, but with a slight upward bias.

Short-term EUR/USD analysis

No change from Tuesday, see the update below.

There isn't much to add as the EUR/USD recorded a new high of 1.1359 in 2 weeks before retreating to close on Tuesday, with little change at 1.1336 (+0.09%). We continue to have the same view as last Wednesday (13 March, at 1.1285), in which the EUR had "entered a consolidation phase" and should trade laterally. Given the low volatility, our expected range of 1.1230/1.1380 is probably sufficient to contain the EUR/USD movement for several more days. In the future, the prospect of a first break of 1.1380 is slightly higher, but given the current impasse, any progress should struggle to exceed the next major resistance at 1.1420 (peak reached at the end of February).