Euro: Upside bias within defined band against US Dollar – UOB
UOB’s Quek Ser Leang and Lee Sue Ann describe EUR/USD as range-bound near 1.1630, with recent trading contained between 1.1619 and 1.1653. They maintain an upside bias but expect the Euro to stay within 1.1585–1.1670 in the coming weeks.
Euro (EUR) is currently range-bound near 1.1630 against the US Dollar (USD), with trading contained between 1.1619 and 1.1653, according to UOB's Quek Ser Leang and Lee Sue Ann. The analysts maintain an upside bias but anticipate the Euro to remain within the range of 1.1585–1.1670 in the coming weeks. In the longer term, they see near-term downward pressure on the Euro but doubt a sustained break below the 1.1505 level due to current momentum. Over the next 1-3 weeks, UOB expects the Euro to trade within a range of 1.1610 and 1.1650.
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