The EUR/USD exchange rate exhibits an unclear outlook, with potential for continued volatile trading within a projected range of 1.0810 to 1.0955. UOB Group analysts Quek Ser Leang and Peter Chia suggest a longer-term upward bias for the Euro, while anticipating substantial resistance within the 1.0955/1.0985 range.
Short-term analysis indicates continued choppy trading, potentially confined between 1.0810 and 1.0955.
Medium-term analysis reveals increased upward momentum, although a significant rally is not immediately anticipated. The prevailing bias favors the Euro, but the 1.0955/1.0985 zone is expected to provide considerable resistance. Sustained upward momentum necessitates the EUR/USD remaining above 1.0770.
