United Overseas Bank’s (UOB) analysts Quek Ser Leang and Lee Sue Ann continue to hold a constructive stance on the EUR/USD currency pair, despite recent consolidation around the 1.1660 level [1]. The analysts note that the euro rose to 1.1711 last Friday before easing to close largely unchanged at 1.1679, representing a marginal gain of 0.01% [1]. In the subsequent session, EUR/USD traded within a narrow range of 1.1655 to 1.1687 and closed modestly lower by 0.15% at 1.1662 [1].
UOB’s short-term view suggests that further range-trading is likely, with expected movement between 1.1650 and 1.1685 in the near term [1]. However, on a 1–3 week horizon, the analysts maintain that there is room for further upside toward 1.1725, provided that support at 1.1630 holds [1]. Looking further ahead, UOB highlights a decisive technical break and a positive weekly MACD, which point to higher targets at 1.1800 and 1.1850 over a 1–3 month period [1].
The analysts emphasize that their positive outlook remains valid as long as the EUR/USD stays above the 1.1630 support level, which was previously identified as a 'strong support' at 1.1615 [1]. No additional market reactions or analyst opinions are discussed in the article.
CONCLUSION
UOB analysts maintain a positive outlook for EUR/USD, targeting further gains toward 1.1725 in the coming weeks and up to 1.1800–1.1850 over the next 1–3 months, contingent on support at 1.1630 holding. The market is expected to remain in a narrow trading range in the short term, with no significant new catalysts identified.