Euro: Further gains eyed toward 1.1800 against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann keep a constructive stance on EUR/USD despite recent consolidation around 1.1660. They still see room for upside toward 1.1725 in the coming weeks as long as support at 1.1630 holds.
United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann maintain a bullish outlook on the EUR/USD exchange rate, anticipating further gains toward 1.1800 and potentially 1.1850 within the next three months. Currently, the EUR is hovering around 1.1660, having consolidated in this range recently. The analysts believe the support level at 1.1630 is crucial, and as long as this level holds, the EUR could continue its upward trajectory.
Over the next one to three weeks, the analysts note that EUR/USD may test the 1.1710 level twice, but any decline should remain within the range of 1.1645 to 1.1700. They caution that any further range-trading is expected to occur between 1.1650 and 1.1685.
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