UOB analysts expect EUR/USD to consolidate between 1.1405 and 1.1450 with a slight intraday downside bias.
EUR/USD is consolidating with a slight downside bias in the near term, trading within a range of 1.1405 to 1.1450. Analysts note that while intraday momentum leans lower, the broader outlook remains tilted upward as long as the pair holds above 1.1405.
The upside bias persists over a one-to-three-week horizon, though momentum toward 1.1520 is not yet strong. The key support level at 1.1405 remains critical for maintaining the current bullish sentiment.
No immediate market reaction was specified, but traders are likely monitoring the range for potential breakout opportunities.