Analysts at United Overseas Bank expect the Euro to weaken but forecast 1.1500 will hold as near-term support against the US Dollar.
United Overseas Bank analysts maintain a cautious outlook on EUR/USD, anticipating a potential decline but expecting the 1.1500 level to act as a floor. Nearby support is seen at 1.1520, while resistance levels are placed at 1.1550 and 1.1570.
Over the next one to three weeks, the bank retains a negative bias, projecting a break below 1.1500 could open a path toward 1.1445. However, a move above 1.1585 would signal a fading downside risk, negating the bearish scenario.
Recent price action saw EUR/USD fluctuate between 1.1530 and 1.1572 before closing slightly lower at 1.1535, reflecting a soft underlying tone.