United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann report that EUR/USD closed near 1.1200 after a volatile session, with price action failing to provide fresh directional clues [1]. For the day, they expect the currency pair to trade within a 1.1180–1.1230 range, reflecting limited momentum for either direction [1]. On a 1–3 week horizon, UOB retains a mildly negative stance, noting a chance for EUR/USD to test 1.1145, while rebounds are likely capped below the strong resistance level at 1.1255 [1]. The analysts turned negative on EUR about a month ago and continue to see downward momentum as lackluster, but maintain their view as long as resistance at 1.1255 holds [1].
CONCLUSION
UOB's analysis suggests a mildly negative bias for EUR/USD, with downside risks toward 1.1145 and rebounds capped below 1.1255. The market is expected to remain range-bound in the near term, with no clear directional momentum. Traders should monitor the 1.1255 resistance level for any shift in sentiment.