UOB analysts expect the Euro to edge higher against the Dollar but see resistance capping gains near 1.1565 in the short term.
EUR/USD climbed to 1.1529, reflecting a slight uptick in upward momentum, though resistance at 1.1565 is expected to limit further gains. Near-term support levels are identified at 1.1515 and 1.1500, with a breach of the latter signaling fading pressure.
The pair rose 1.41% last week, but analysts caution that the rapid ascent may have outpaced fundamentals. A close above 1.1565 could target 1.1600, while strong support remains at 1.1470. Current momentum suggests modest upside potential but no decisive breakout.
Trading remained within a narrow range of 1.1501 to 1.1534 before settling at 1.1529, up 0.19% on the day. Resistance at 1.1545 may act as an intermediate hurdle before any test of 1.1565.