Euro: Downtrend slows but further lows possible against US Dollar – UOB
United Overseas Bank (UOB) strategists Quek Ser Leang and Lee Sue Ann note that EUR/USD briefly broke below 1.1180 to a 17‑month low before rebounding to close around 1.1220. Intraday, they expect consolidation inside a defined range.
United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann report that the Euro experienced a brief dip below the 1.1180 level, reaching its lowest point in 17 months before bouncing back. They anticipate the currency to find stability within a defined range. Over the next 1-3 weeks, they maintain a bearish outlook on the Euro, indicating that while momentum is decelerating, a test of the 1.1145 level and the 1.1215 target over a 1-3 month timeframe remains possible.
Initially, they believed EUR would trade within a range, but instead, it dropped to a low of 1.1160 during Asian trading hours before recovering, closing 0.28% lower at 1.1221. They continue to expect the Euro to oscillate within a range, likely between 1.1180 and 1.1255.
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