Euro Resistance: Breaking Above $1.1560 Crucial for Further Gains

The Euro has been holding steady against the US Dollar at around $1.1540 after a quiet session, according to UOB's analysts Quek Ser Leang and Lee Sue Ann.

In their report, they mention that momentum indicators are mostly flat, which is why they expect EUR/USD to trade within a range of $1.1530-$1.1560 in the short term.

However, if the Euro breaks above this resistance level at $1.1560, it could trigger a quick rise towards $1.1580.

Looking ahead to the next 1-3 weeks, Quek Ser Leang and Lee Sue Ann caution that further gains require a close above $1.1580 before a move to $1.1600 and beyond can be expected.