Euro: Upside bias toward 1.1725 against US Dollar – UOB

According to technical analysis by United Overseas Bank (UOB) analysts Quek Ser Leang and Lee Sue Ann, EUR/USD has broken out of its recent tight consolidation phase, establishing a mild upward bias. The currency pair settled near 1.1674 after rising from a low of 1.1650, signaling that tentative upward momentum is beginning to build across intraday and multi-week timeframes. In the short term, UOB anticipates that EUR/USD could test the immediate resistance level at 1.1695, though stronger resistance near 1.1710 is expected to hold during daily trading. Immediate support is identified at 1.1665, followed by secondary support at 1.1655. Over a one-to-three-week horizon, the bank maintains a bullish posture, targeting an extension toward 1.1725, with longer-term structural targets at 1.1800 and 1.1850. Analysts emphasize that this positive view remains valid as long as the euro stays above the key trailing support level of 1.1640.