UOB maintains a bullish bias for EUR/USD but flags strong resistance at 1.1650 after a failed break above 1.1620.
EUR/USD closed at 1.1590 after failing to sustain gains above 1.1620, with momentum easing. The pair tested 1.1622 before retreating, reflecting a pullback amid slowing upward pressure.
UOB expects an upside bias over the next 1-3 weeks but warns of firm resistance at 1.1650. Support remains at 1.1555, with a broader 1.1555–1.1750 range projected for early Q3 2026.
The bank notes consolidation is likely near-term, with a probable trading range of 1.1570 to 1.1610. A break below 1.1555 could signal further downside risk.