EUR/USD May Consolidate Between 1.1130 and 1.1230 in Short Term – UOB

EUR/USD Expected to Trade Within a Tight Range, Says UOB Group

The euro may remain range-bound against the U.S. dollar in the near term, according to FX strategists at UOB Group. Analysts Quek Ser Leang and Peter Chia note that recent price action suggests no clear trend momentum, indicating that EUR/USD is likely to consolidate between 1.1130 and 1.1230 in the short run.

Short-Term Outlook

In their latest 24-hour perspective, the analysts highlight that EUR had rallied to a high of 1.1265 earlier this week but quickly retraced, closing lower at 1.1174. "There has not been a pickup in either ascending or descending momentum," they said, adding that the euro will likely trade sideways in a 1.1130–1.1230 range today.

1–3 Weeks View

On a slightly broader timeframe, UOB has shifted its stance. The firm had recently turned bearish on the euro after a drop to 1.1064, but now acknowledges that the break above the 1.1225 resistance suggests a new consolidation phase is underway. For the coming weeks, they expect EUR/USD to fluctuate between 1.1100 and 1.1290.

This technical view reflects an overall neutral bias, with traders awaiting stronger signals or economic catalysts to push the pair out of its current holding pattern.