**BREAKING: EUR/USD Holds Ground Above 1.16 with Further Gains Expected**
The euro is maintaining momentum against the US dollar at 1.1685, with United Overseas Bank forecasting additional upside movement toward 1.1725 in the near term. UOB currency strategist Quek Ser Leang issued the outlook today, noting the pair has successfully held recent gains and established a solid base above the 1.16 handle.
Intraday trading is expected to remain range-bound between 1.1655 on the downside and 1.1715 on the upside as the single currency consolidates before potential further appreciation. The projection comes as the euro continues to show resilience against the greenback amid shifting monetary policy expectations between the Federal Reserve and European Central Bank.
Traders and brokers should watch for any break above 1.1715 as confirmation of extended bullish momentum, while a slide below 1.1655 could signal weakening buyer conviction.
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FXnCO Insight
** Position for potential euro strength by monitoring 1.1715 as the key resistance level that could trigger acceleration toward UOB’s 1.1725 target if breached on increased volume.
Source: FXStreet