EUR/USD Moves into Range Trading Between 1.1365 and 1.1435 – UOB Group

EUR/USD: Price Action Signals Range Trading Between 1.1365 and 1.1435 – UOB Group

Short-Term View (24 Hours):

According to the UOB Group, the EUR/USD pair has transitioned into range trading mode, with the pair expected to fluctuate between 1.1365 and 1.1435 in the short term. This assessment comes after last Thursday’s brief rally to 1.1494, which failed to sustain above the psychological 1.1500 level. The price dropped to 1.1369 on Friday, indicating fading bullish momentum.

“Today, we expect EUR to move between 1.1365 and 1.1435,” the bank’s forex analysts wrote.

Medium-Term View (1–3 Weeks):

UOB’s medium-term analysis also sees the Euro entering a broader consolidation range, now likely fluctuating between 1.1330 and 1.1495. Last week’s near-test of 1.1530 resistance failed to hold, and the retracement to the 1.1369 level weakened bullish momentum.

“Although our strong support at 1.1365 remains intact, upward momentum has considerably weakened,” the analysts stated.

Key Support and Resistance Levels:

• Short-Term Range: 1.1365 – 1.1435
• Medium-Term Range: 1.1330 – 1.1495
• Major Resistance: 1.1495 and 1.1530
• Strong Support: 1.1365

What to Watch on Tredu:

• EUR/USD Technical Outlook – Weekly Chart Patterns
• ECB Rate Expectations and Euro Reaction
• US Dollar Index Impact on Major Pairs