Euro: Upside capped by key resistance against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann report EUR/USD holding near 1.1540 after a quiet session, with momentum indicators mostly flat. Intraday, they expect consolidation between 1.1530 and 1.1560, but a break above 1.1560 could trigger a quick move to 1.1580.
Euro (EUR) is currently trading near 1.1540 against the US Dollar (USD), with momentum indicators indicating a flat trend. Analysts at UOB, Quek Ser Leang and Lee Sue Ann, anticipate the pair to remain in a consolidation phase between 1.1530 and 1.1560 intraday. However, a break above 1.1560 could lead to a swift move towards 1.1580.
Over the next 1-3 weeks, significant gains would require EUR to close above 1.1580, potentially pushing the pair above 1.1600. If EUR breaks below 1.1515, it would suggest that the pair is not set to advance further, indicating a strong support level for the currency.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
