UOB analysts expect EUR/USD to trade between 1.1360 and 1.1410 after a failed breakout above 1.1434.
EUR/USD briefly spiked to 1.1434 before retreating, failing to sustain upward momentum. The pair closed at 1.1383, up 0.12% on the day, as intraday volatility eased into consolidation.
Analysts had previously flagged the downside move as overstretched, with a break below 1.1325 needed to target 1.1280. Instead, the breach of resistance at 1.1420 signaled stabilization, shifting focus to a broader 1.1335–1.1470 range.
UOB now expects range-bound trading near-term, with immediate support at 1.1360 and resistance at 1.1410. Longer-term key supports remain in focus, though no fresh directional bias has emerged.