The euro has staged a sharp recovery against the US dollar after touching 1.1453, according to United Overseas Bank currency strategist Quek Ser Leang. The EUR/USD pair now has potential to push higher toward the 1.1565 resistance level during today’s session, though this upside scenario depends on maintaining support above the 1.1495 threshold. The rebound comes after recent pressure on the common currency, with traders now watching whether bulls can sustain momentum through this critical resistance band. The 1.1495 level has emerged as the key pivot point determining near-term direction for the pair. Foreign exchange desks and euro-exposed portfolios are closely monitoring these technical levels as volatility continues in major currency markets. A break below 1.1495 would likely invalidate the bullish case and could trigger renewed selling pressure toward recent lows.
FXnCO Insight
EUR/USD traders should watch 1.1495 as the critical support level today—hold above opens the door to 1.1565, break below signals fresh downside risk.
Source: FXStreet