Downside bias within broad range – UOB

UOB economist analysts Quek Ser Leang Lee and Sue Ann highlight that EUR/USD failed to sustain recent gains, slipping to 1.1554 as downside momentum picked up. Intraday, they see scope for a further drift toward 1.1530 while keeping 1.1480 intact as major support. Over the next one to three weeks, they expect range trading between 1.1480 and 1.1640, with medium‑term risks skewed toward a test of 1.1390.

Euro softens as downside momentum builds

“24-HOUR VIEW: Downward momentum has increased, albeit not significantly. Today, EUR could continue to edge lower to 1.1530 before a recovery can be expected. We do not expect the major support at 1.1480 to come under threat. Resistance levels are at 1.1580 and 1.1600.”

“1-3 WEEKS VIEW: Yesterday, EUR dipped to 1.1554. Although our ‘strong support’ level at 1.1540 has not been breached yet, the build-up in momentum has largely faded. The current price movements are likely part of a range-trading phase. For the time being, we expect EUR to trade between 1.1480 and 1.1640.”

“1-3 MONTHS VIEW: Emerging reversal signs suggest that EUR/USD could break the 55-week EMA (now at 1.1500) and test 1.1390. (dated 06 Mar 2026, 1.1610)”

(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor.)