EUR/USD: Consolidation with upside trigger at 1.1565 – UOB
UOB strategists note EUR/USD is consolidating after failing to hold above 1.1558. A close above 1.1565 is needed to extend gains.
EURUSD
EUR/USD’s recent sharp rally gave way to consolidation after bulls failed to defend a break above 1.1558, according to UOB strategist Quek Ser Leang.
Intraday, the pair is expected to hold a 1.1485–1.1540 range, with near-term bias tilted sideways.
A decisive close above the 1.1565 resistance level would be required to revive upward momentum, suggesting the consolidation phase may persist until that trigger is cleared.
Source: FXStreet Forex News