EUR/USD: Next resistance at 1.0870 is unlikely to come under threat – UOB Group
Portfolio Pulse from
UOB Group's FX analysts Quek Ser Leang and Peter Chia suggest the EUR/USD currency pair may transition to range-bound trading. The pair recently rebounded to 1.0821, with potential resistance at 1.0825 and 1.0870. If EUR breaks above 1.0825, it indicates a likelihood of trading in a range instead of continuing to decline.
March 28, 2025 | 10:30 am
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NEUTRAL IMPACT
The potential range-bound trading of EUR/USD could impact the Invesco DB US Dollar Index Bullish Fund (UUP), which tracks the performance of the US Dollar.
UUP's performance is inversely correlated with EUR/USD movements. The potential range-bound trading suggests minimal directional impact on the ETF.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 60