Euro: Mild upside toward 1.1565 cap against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann highlights that EUR/USD firmed to 1.1529, with short‑term momentum turning slightly higher. They see scope for the Euro to edge up but doubt an intraday break of 1.1565, with 1.1545 as nearer resistance and 1.1515/1.1500 as supports.
UOB analysts Quek Ser Leang and Lee Sue Ann report that the EUR/USD currency pair rose to 1.1529, indicating a mild upward momentum. They suggest there is potential for the Euro to climb further, but they are cautious about a break above the 1.1565 level. In the short term, the nearest resistance point is identified at 1.1565, while 1.1545 serves as a more immediate resistance barrier.
Support levels are marked at 1.1545 and 1.1515/1.1500. In the next 1-3 weeks, a close above 1.1565 could potentially propel the pair to 1.1600, while 1.1470 remains a strong support level. The article notes that EUR/USD experienced a narrow trading range between 1.1501 and 1.1534 within 24 hours, followed by a slight increase in upward momentum.
Currently, the Euro faces a mild upward trend, but breaking the 1.1565 resistance level appears unlikely at the moment.
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