EUR/USD Fails to Break Above 1.1565, Support at 1.1495 Holds
The EUR/USD pair has retreated to 1.1524 after failing to break above 1.1560, according to UOB's Quek Ser Leang and Lee Sue Ann.
Intraday, they see scope for a further pullback but expect strong support at 1.1495 to hold.
The analysts believe that a close above 1.1565 in the next 1-3 weeks would open the way toward 1.1600, while a break below 1.1495 would signal a shift into range trading.