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fxAug 7, 2026, 6:21 AM

EUR/USD rebound faces key cloud resistance: UOB

UOB Group's Quek Ser Leang notes a sharp EUR/USD rebound, but a key cloud barrier now threatens to cap the move.

EURUSD

EUR/USD has staged a sharp recovery after a spell of sideways trading, according to UOB Group's Quek Ser Leang. The bounce comes following a decline from the pair's January high down to levels seen in mid-June.

The immediate rally now confronts a key cloud barrier on the charts, a technical level that could stall further advances. A clean break above the cloud would be needed to extend the rebound, while a rejection may see the pair resume its broader downtrend.

Source: FXStreet Forex News