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EUR/USD consolidation on the cards – KBC

FXStreet (Barcelona) - The KBC Team, notes that some consolidation can be seen for the EUR/USD pair within the 1.2358/1.2600 range.

Key Quotes

“For EUR/USD some further consolidation within the EUR/USD 1.2358/1.2600 range might be on the cards”

“Over the previous days we already indicated that a swift break lower in EUR/USD wouldn’t be that easy, even in case if the data point in that direction. The price action yesterday and on Tuesday supports this feeling.”

“The price move in USD/JPY looks a bit toppish too. So, even as the trend is USD positive longer term, it looks that the market is not ripe for a further upleg at this stage."

"Next week’s early month US eco data might decide whether there is room for a new USD upleg going into the end of the year.”

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