Euro (EUR) continued to float decrease amid broad US Greenback (USD) rebound. Pair was final at 1.1250 ranges, OCBC’s FX analysts Frances Cheung and Christopher Wong observe.
Various reserve currencies together with the EUR could profit
“Day by day momentum is just not exhibiting a transparent bias now whereas RSI fell. On worth motion, rising wedge sample is taking part in out — sometimes related to a bearish reversal. Assist at 1.1235 (23.6% fibo retracement of 2025 low to excessive) and 1.1180 (50 DMA). Resistance at 1.1420/30 ranges.”
“A possible deal between EU-US could result in EUR backing off from its latest highs within the close to time period. However extra importantly, if the ‘promote USD’ commerce stays alive amid diversification flows, various reserve currencies together with the EUR could profit.”
