Euro: Rebound eyes key resistance band against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang observes EUR/USD rebounded sharply after a dip to 1.1453, with scope to extend gains toward 1.1565 intraday, provided it holds above 1.1495.
United Overseas Bank's Quek Ser Leang notes that the EUR/USD currency pair experienced a sharp rebound following a dip to 1.1453, with potential to extend gains toward 1.1565 intraday, if it remains above 1.1495. Looking ahead at a 1-3 week timeframe, he anticipates a test of 1.1565 and possibly 1.1600. Conversely, a break below 1.1455 would weaken the bullish outlook. Quek emphasizes that for EUR to maintain its upward momentum, it must hold above 1.1495, with a minor support level at 1.1510.
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