United Overseas Bank analysts Quek Ser Leang and Lee Sue Ann maintain a bullish outlook on EUR/USD despite the pair consolidating near 1.1660 in recent sessions. The strategists project further upside potential toward the 1.1725 level in the coming weeks, provided the currency pair maintains support above the critical 1.1630 threshold.
The constructive view comes as the euro shows resilience against the dollar amid ongoing consolidation. Traders should monitor the 1.1630 support zone closely, as a break below this level could invalidate UOB’s bullish scenario and trigger renewed downside pressure. Conversely, a sustained push above current levels could accelerate momentum toward the 1.1725 target.
The forecast has immediate implications for forex traders positioning in major currency pairs, particularly those with EUR/USD exposure. Options dealers and institutional desks may adjust hedging strategies accordingly based on these revised technical levels.
FXnCO Insight
Watch 1.1630 as your key risk level—hold above confirms UOB’s bullish case toward 1.1725, while a break below signals caution on euro longs.
Source: FXStreet