BTMU FX Strategy Research holds a neutral bias on EUR/USD as the pair is moving into key technical resistance between the 1.1400 and 1.1600 levels.
“EUR/USD’s failure to rally on the back of Fed Chair Yellen’s semi-annual testimony has provided another indication that a lot of good news is priced for now,” BTMU argues.
“The main event in the euro-zone next week will be the latest ECB policy meeting. We expect it to be largely a non-event for the euro. The ECB is expected to just repeat the recent more upbeat outlook for the euro-zone economy,"BTMU adds.
BTMU sees the pair trading in a 1.1250-1.1550 range in the near-term.
Source: BTMU Research
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