Analysts at UOB note the Euro’s momentum has flattened, capping gains below 1.1580 and signaling a tight 1.1530–1.1560 range.
EUR/USD traded in a narrow 1.1539–1.1569 range yesterday, closing 0.14% lower at 1.1542 after failing to break above 1.1580 last Friday. Momentum indicators remain flat, suggesting limited movement today within a 1.1530–1.1560 band.
The pair tested 1.1560 three times earlier this month but lacked follow-through, with upward momentum now slowing. UOB analysts raised the upside hurdle, requiring a close above 1.1580 to target 1.1600, while strong support has shifted to 1.1515. A break below 1.1495 could signal a shift to range-bound trading.
No immediate market reaction was reported, as the Euro consolidates below key resistance levels.