Euro Stalls Below Key Resistance, UOB Sees Flat Momentum

The euro’s rally against the US dollar has paused, with the pair trading in a narrow band after a sharp upward move last week. UOB strategists Quek Ser Leang and Lee Sue Ann noted that momentum has flattened, capping gains below a key resistance level.

In their latest note, the analysts highlighted an intraday range of 1.1530 to 1.1560, suggesting a lack of directional conviction for now. The stall comes as traders reassess the near-term outlook following the prior week’s surge.

No clear catalyst has emerged to break the pair out of its current holding pattern, leaving it vulnerable to further consolidation unless fresh drivers appear.