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EUR/USD: Likely to trade in a range between 1.1280 and 1.1400 – UOB Group

Euro (EUR) is likely to trade in a range between 1.1280 and 1.1400 vs US Dollar (USD). In the longer run, further EUR strength is not ruled out, but it may first range-trade for a couple of days, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

Further EUR strength is not ruled out

24-HOUR VIEW: "Following the sharp rally in EUR last Friday, we indicated yesterday (Monday) that 'the rally may take a pause.' We were of the view that EUR 'is likely to trade between 1.1240 and 1.1415.' EUR then traded in a narrower range than expected (1.1295/1.1424), closing slightly lower by 0.10% at 1.1349. We continue to expect EUR to trade in a range today, likely between 1.1280 and 1.1400."

1-3 WEEKS VIEW: "The next resistance is at 1.1500. The following are the excerpts from our update yesterday (14 Apr, spot at 1.1340: 'While further EUR strength is not ruled out, deeply overbought short-term conditions could lead to a couple of days of range-trading first. As long as 1.1180 (‘strong support’ level) is not breached, the EUR strength that started early this month could extend to 1.1500.' Our update remains valid, but the ‘strong support’ level has moved higher to 1.1210 from 1.1180."

USD/CHF holds near 0.8150 as Swiss Franc receives support from persistent safe-haven flows

USD/CHF moves sideways after registering losses in the previous three successive sessions, hovering around 0.8150 during the European trading hours on Tuesday. The pair remains within striking distance of the 0.8099 mark—its lowest level since September 2011—briefly touched on April 11.
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OPEC lowers demand estimates – ING

Oil prices rose marginally higher yesterday despite OPEC trimming demand estimates. ICE Brent settled just below US$65/bbl. The market is digesting fast-moving policy developments on the tariff front, while balancing them with nuclear talks between the US and Iran.
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