EUR/USD upside hinges on 1.1565 break, UOB sees pullback risk

EUR/USD has fallen back to 1.1524 following repeated unsuccessful attempts to break through the 1.1560 level, according to UOB strategists Quek Ser Leang and Lee Sue Ann. The pair’s inability to clear that resistance has shifted the near-term focus lower.

Intraday, they anticipate scope for additional downside, though they highlight that solid support is likely to emerge at 1.1495. A sustained break above 1.1565 would be required to revive a bullish bias.