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EUR/USD stays in a 1.1360 to 1.1450 range, UOB says

UOB says a break below the 1.1390 to 1.1410 support zone would open the door for a move toward 1.1210 on a multi week view.

Reported · Written up by our desk · Major Pairs

UOB analysts Quek Ser Leang and Lee Sue Ann said EUR/USD has slipped after testing 1.1460, with downward momentum building, though they expect the pair to struggle to reach major support near 1.1360 in the near term.

For the next one to three weeks, they forecast EUR/USD to trade within a 1.1360 to 1.1450 band, characterizing recent price action as continued range trading rather than a sustained directional move.

On a wider horizon, UOB noted that a break of the 1.1390 to 1.1410 support zone would target 1.1210, while they said sustaining downside momentum would require EUR to stay below 1.1420.

They also pointed to support and resistance levels in the near term, citing support around 1.1375 and minor resistance near 1.1405.

Latest closeEUR/USD 1.142 ▼0.0%

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