EUR Edges Higher but Faces Resistance at 1.1565

EUR/USD firmed up to 1.1529, with short-term momentum turning slightly higher, according to United Overseas Bank's (UOB) analysts Quek Ser Leang and Lee Sue Ann.

In their analysis, they see scope for the Euro to edge up but doubt an intraday break of 1.1565, citing resistance at 1.1545 and support levels at 1.1515/1.1500.

Looking ahead on a 1-3 week horizon, UOB analysts suggest that a close above 1.1565 could open up a potential move towards 1.1600, while maintaining strong support at 1.1470.

The EUR has been consolidating within a narrow range of 1.1485 and 1.1540 over the past day, with some upward momentum building in the current price movements.