EUR/USD Upside Bias Hinges on Daily Close Above Key Resistance

The EUR/USD pair is currently in an upside bias, but it requires a decisive daily close above a key resistance level to confirm its next leg higher.

This assessment comes from UOB's FX strategists, who note that without this close, the pair may continue to consolidate and potentially retest lower support areas.

A break above this resistance could signal a shift in market sentiment and attract further buying interest, but a failure to do so might lead to profit-taking and a retest of lower support levels.