Bettering upward momentum signifies EUR/USD might keep its upward bias; it’s untimely to count on a retest of the 1.1573 excessive, UOB Group’s FX analyst Quek Ser Leang experiences.
EUR/USD continues to be attempting to edge larger
“Our earlier Chart of the Day replace from about two weeks in the past, 09 Might 2025, when EUR/USD was at 1.1225 states: “On the every day chart, EUR/USD fell barely under the 1.1215/1.1225 help zone yesterday (baseline of Ichimoku cloud, final September’s excessive and a rising trendline), suggesting that 1.1573 may very well be an interim high. The breach of the important thing every day help zone might open the best way for a deeper corrective pullback towards the 55-day EMA, at present at 1.1050. On the upside, 1.1400 is a robust near-term resistance stage, forward of 1.1573.”
“Shortly after our replace, EUR/USD fell and examined the 55-day EMA, reaching a low of 1.1064. Because the low, EUR/USD has been edging larger. The every day MACD is rising, indicating enhancing upward momentum, although it stays in damaging territory for now. Whereas the enhancing momentum suggests EUR/USD might keep its present upward bias, it seems untimely to count on a retest of 1.1573, not to mention a sustained break above this stage.”
“The present upward bias will stay intact so long as EUR/USD holds above the 55-day EMA. Within the near-term, forward of the 55-day EMA, there’s a notable help stage at 1.1200. On the upside, ought to there be a decisive break above 1.1435, then the chance of EUR/USD retesting of 1.1573 will enhance.”
