**BREAKING: UOB Analysts Set Euro Floor at 1.1500 Against Dollar**
United Overseas Bank currency strategists Quek Ser Leang and Lee Sue Ann have issued fresh guidance on EUR/USD positioning, maintaining a cautious outlook for the common currency while identifying key technical support levels. The analysts project the euro may drift lower in the near term but emphasize that downside appears limited, with 1.1500 acting as a critical floor. They identify 1.1520 as the immediate support level traders should monitor. The assessment comes as currency markets navigate ongoing volatility driven by diverging central bank policies and shifting rate expectations between the European Central Bank and Federal Reserve. The forecast suggests the euro remains under pressure but is unlikely to see a sharp breakdown below current ranges. Traders in the pair are now closely watching whether the 1.1520 level holds or breaks in coming sessions.
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FXnCO Insight
** EUR/USD shorts should take profit near 1.1520 and avoid aggressive downside bets below 1.1500 until support clearly breaks.
Source: FXStreet