FXStreet reports that according to FX Strategists at UOB Group, EUR/USD is expected to navigate between 1.1840 and 1.1890 in the very near-term.

24-hour view: “We expected EUR to strengthen last Friday but we were of the view that ‘a break of the major resistance at 1.1920 is unlikely’. EUR subsequently rose to a high of 1.1890 before easing off and traded sideways for the rest of the sessions. The movement is viewed as part of a consolidation phase and EUR could trade sideways, expected to be within a 1.1840/1.1890 range. Looking forward, 1.1890 is acting as a solid resistance and break of this level could potentially lead to a rapid rise towards the major resistance at 1.1920.”