|

EUR/USD is now seen within 1.0260 and 1.0430 – UOB

In the opinion of UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang, EUR/USD is now expected to trade between 1.0260 and 1.0430 in the next weeks.

Key Quotes

24-hour view: “Yesterday, we held the view that EUR ‘could drop to 1.0300’. However, EUR traded between 1.0318 and 1.0394 before closing slightly lower at 1.0327 (-0.10%). We continue to see downside risk for EUR even though the lackluster downward momentum suggests EUR is unlikely to challenge the major support at 1.0260. Resistance is at 1.0360, followed by 1.0390.”

Next 1-3 weeks: “There is no change in our view from yesterday (29 Nov, spot at 1.0345). As highlighted, the recent upward momentum has more or less dissipated. For the time being, EUR is likely to trade between 1.0260 and 1.0430. Looking ahead, if EUR breaks clearly below 1.0260, it could lead to a deeper drop.”

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

More from Pablo Piovano
Share:

Editor's Picks

EUR/USD recovers further from one-month low set on Friday, eyes mid-1.1800s on weaker USD

The EUR/USD pair is seen building on Friday's late recovery from the 1.1750-1.1740 region, or a nearly one-month trough, and gaining some follow-through positive traction at the start of a new week. The momentum lifts spot prices to the 1.1835 area during the Asian session and is sponsored by a broadly weaker US Dollar.

GBP/USD gathers strength above 1.3500 amid tariff confusion

The GBP/USD pair gains traction to around 1.3520 during the early Asian session on Monday. The US Dollar faces some selling pressure against the Cable as tariff uncertainty lingers. Traders will take more cues from the US Producer Price Index report for January, which will be published later on Friday. 

Gold rallies above $5,150 as Trump’s tariffs boost haven demand

Gold price extends the rally above $5,150 in the Asian session on Monday. The precious metal extends the rally amid US President Donald Trump’s tariff threats and uncertainty, which boost safe-haven flows. US-Iran geopolitical risks also linger, supporting the Gold price upside. 

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.

Liberation day take two, the tariff machine just changed gears

Let me caveat this from the outset. What we are watching is first-order mechanics, not the grand macro endgame. This is the market’s immediate reflex to a 15% Trump tariff levy dressed up as judicial drama. The Supreme Court blocked Trump tarrif hammer. The White House came back with a scalpel.

Ripple bulls defend key support amid waning retail demand and ETF inflows

XRP ticks up above $1.40 support, but waning retail demand suggests caution. XRP attracts $4 million in spot ETF inflows on Thursday, signaling renewed institutional investor interest.