Euro Rebound Hits Resistance at Key Technical Levels

The Euro's recent rebound against the US Dollar has stalled due to strong resistance at key technical levels, according to analysts from United Overseas Bank (UOB).

As of this week, the Euro is trading around $1.08 against the Dollar, having bounced back from a multi-week low near $1.07.

The immediate resistance zone lies between 1.0850 and 1.0900, where selling interest has been observed. A daily close above this level could signal further gains, potentially targeting $1.1000.

However, the analysts caution that the Euro's upside is limited in the near term due to uncertainty surrounding the European Central Bank's policy path and mixed economic data from the Eurozone.