Forex
Home›Forex›Major Pairs›EUR/USD stalls after surge, seen ranging near 1.1530 t…
EUR/USD stalls after surge, seen ranging near 1.1530 to 1.1560
Analysts at UOB say further upside likely requires an EUR/USD close above 1.1580, while strong support has moved up to 1.1515.
EUR/USD has stalled after last week’s surge, with momentum largely flat and the pair expected to trade within a narrow intraday band, according to analysts at United Overseas Bank, UOB.
UOB’s outlook points to an anticipated 1.1530 to 1.1560 range over the near term, after EUR recently traded quietly between 1.1539 and 1.1569 and closed slightly lower at 1.1542, down 0.14%.
Looking ahead one to three weeks, UOB says the Euro’s upside hurdle has risen, with an EUR/USD close above 1.1580 needed to open the path toward 1.1600 and higher levels.
On the downside, UOB moved strong support up to 1.1515, from 1.1495, and cautioned that a break below 1.1495 would suggest the pair has likely entered a range-trading phase.
Latest closeEUR/USD 1.155 ▲0.2%