UOB analysts say the Euro is showing slight upward pressure against the US Dollar. It may rise to 1.1840, but it’s unlikely to surpass 1.1860. To continue this upward trend, it needs to stay above 1.1785.
Right now, the Euro might increase a bit, but weak momentum could limit its rise at 1.1840. The 1.1860 resistance level is strong unless the Euro falls below 1.1765 soon, which would lower the risk of a downward move. If the Euro does break above 1.1860, we could see a period of range trading.
Insights from FXStreet
This information comes from the FXStreet Insights Team, who gather views from market experts. It includes commercial notes and perspectives from various analysts.
Currently, the Euro is under slight upward pressure, but this happens amid mixed economic signals. Eurozone inflation has recently dropped to 2.5%, while the latest US jobs report showed a strong gain of over 210,000 jobs, supporting the dollar. As a result, the Euro is having difficulty staying above the 1.0800 mark.
Trader Strategies and Market Levels
For traders in derivatives, this means focusing on key market levels in the next few weeks. Any rise in the Euro will likely be capped at the 1.0850 resistance area, with the bigger barrier at 1.0880 seeming untouchable. To keep moving up, the Euro needs to hold above the support level at 1.0750.
Downward momentum has slowed down, but if the Euro breaks and stays below 1.0720, it would signal renewed risks for a drop, similar to the volatility seen in late 2025. On the other hand, if the Euro moves steadily above the strong resistance at 1.0880, it would suggest a shift into range trading. This could make strategies like short strangles for trading volatility more appealing.
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