UOB analysts expect the currency pair to oscillate between 1.1360 and 1.1450 in coming weeks amid fading momentum.
EUR/USD failed to extend its recent advance, retreating from highs as momentum weakened, according to market analysis. The pair is now trading in a range, with support at 1.1360 and resistance near 1.1430, limiting near-term directional moves.
Recent sessions saw EUR/USD fluctuate between 1.1408 and 1.1444, closing largely unchanged. Downward pressure emerged after a drop to 1.1407, though momentum remains subdued. Analysts note a breach of 1.1430 could ease immediate downward pressure.
Over the next 1-3 weeks, the pair is expected to trade sideways, with key levels at 1.1360 and 1.1450. Earlier upside bias has faded, and resistance at 1.1470 and 1.1500 remains intact.