UOB analysts see EUR/USD maintaining an upside bias with 1.1590 as the next target while holding above 1.1525 support.
EUR/USD climbed to 1.1585, extending gains after breaking prior resistance levels. The pair closed 0.36% higher at 1.1569, signaling a firmer short-term tone despite failing to decisively breach 1.1580 earlier.
Analysts had expected range-bound trading between 1.1480 and 1.1580 but noted the pair’s momentum shifted after Friday’s close. The next resistance level sits at 1.1590, with 1.1610 remaining a stronger hurdle over the next 1-3 weeks.
Support is now pegged at 1.1545, with minor backing at 1.1555. A sustained move above 1.1590 appears unlikely without further catalyst, according to the latest assessment.