Euro: Rebound eyes key resistance band against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang observes EUR/USD rebounded sharply after a dip to 1.1453, with scope to extend gains toward 1.1565 intraday, provided it holds above 1.1495. On a 1–3 week view, he sees potential for a test of 1.1565 and possibly 1.1600, while a break below 1.1455 would undermine the bullish scenario.
Upside bias toward 1.1565–1.1600
"24-HOUR VIEW: Last Friday, USD fell to a low of 1.1453 and then rebounded sharply to close unchanged at 1.1527. EUR could continue to rebound today but note that 1.1565 is expected to provide significant resistance. To keep the momentum going, EUR must hold above 1.1495, with minor support at 1.1510."
"1-3 WEEKS VIEW: After dropping to a low of 1.1353 early last week, EUR soared and ended the week 1.41% higher at 1.1527. The rapid rise appears to be running ahead of itself, but there is a chance for EUR to test the significant resistance at 1.1565. Should EUR close above this level, it could rise toward 1.1600. On the downside, a breach of 1.1455 (‘strong support’ level) would indicate that EUR is unlikely to break above 1.1565."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
XRP Avengers claims holding 10,000 XRP could yield $1 million, community reacts
AI computing power demand ignites nuclear capital enthusiasm: Holtec (HNUC.US) plans IPO to raise 900 million dollars, targeting a 10 billion dollar valuation.
Nuclear supplier Holtec is seeking to raise up to $900 million through a U.S. initial public offering, as companies aim to profit from the growing electricity demand driven by data centers.

Longest in Five Years! US Stock Earnings Upward Revision Trend Hits Record Since 2021, May Signal Another Profitable Earnings Season Ahead
Supported by strong corporate earnings prospects, U.S. stocks are demonstrating considerable resilience and are withstanding the impact of rising inflationary pressures.

Middle East Turmoil, Higher Crude Bills Damp European Bourses Midday
