EUR/USD Break Above 1.1565 Hinges on Momentum Shift

The EUR/USD pair is trading near the 1.15 handle, but its upside bias against the US dollar hinges on a clear break above the 1.1565 level, according to UOB Group's foreign exchange strategists.

A decisive move above this level would confirm sustained upward momentum and potentially attract momentum buyers.

The pair has been consolidating in a narrow range over the past few sessions, with immediate resistance at 1.1565 and supports at 1.1480 and 1.1440.