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EUR/USD rebounds after selloff, expected to trade in 1.1595 to 1.1640 range

UOB analysts say the euro’s longer-term targets are 1.1800 and 1.1850, while downside risks on a 1 to 3 week horizon point to 1.1550.

Reported · Written up by our desk · Major Pairs

United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann say EUR/USD rebounded sharply after what they described as an excessive selloff that pushed the pair to about 1.1573 last Friday.

In their near-term outlook, they expect the euro to hold within 1.1595 to 1.1640, citing a lack of clear upside momentum after the bounce.

Over the next one to three weeks, UOB flags persistent downside risks toward 1.1550, even as oversold conditions may delay any immediate test of major support.

For longer-term levels, the analysts point to targets at 1.1800 and 1.1850.

Latest closeEUR/USD 1.163 ▲0.3%

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