Home›Forex›Major Pairs›EUR/USD consolidates after failing to hold above 1.1558

EUR/USD consolidates after failing to hold above 1.1558

FXStreet notes EUR/USD is seen trading between 1.1485 and 1.1540, with a daily close above 1.1565 seen as a trigger toward 1.1600.

Reported · Written up by our desk · Major Pairs

FXStreet highlights that EUR/USD’s sharp rebound has shifted into consolidation after a failed attempt to sustain gains above 1.1558, according to UOB’s Quek Ser Leang.

In the near term, UOB expects the pair to trade in a range of 1.1485 to 1.1540, and says a close above 1.1565 could open the way toward 1.1600.

Looking further out, a break of 1.1390 to 1.1410 is cited as the longer term trigger, targeting 1.1210.

FXStreet adds that the move came after EUR fell to 1.1453 and rebounded sharply last Friday, with the pair closing at 1.1507, down 0.17%, as the rebound momentum did not continue.

Latest closeEUR/USD 1.151 ▼0.1%

More like this

Sources