EUR/USD Holds Gentle Upward Bias Amid Quiet Price Action

EUR/USD has maintained its gentle upward bias despite relatively quiet price action on Monday. According to UOB's Quek Ser Leang and Lee Sue Ann, analysts see scope for a test of 1.1640 within the day. However, they note that any further advance is unlikely to threaten the major resistance at 1.1670.

The pair has been trading within a defined range, with support at 1.1610 and followed by 1.1600. The analysts continue to hold their view from last Friday, highlighting that while the upside bias remains intact, EUR should stay within a narrower range of 1.1585/1.1670.

Looking ahead, any break above 1.1640 is not ruled out, but upward momentum is not strong enough for now to challenge major resistance at 1.1670 decisively.