Forex

Euro Surges Against Dollar, Targets 1.1590 with Strong Resistance

Guavy AI Editorial Team Published August 17, 2026

Instruments

EUR USD

Quek Ser Leang from United Overseas Bank (UOB) points out that EUR/USD has surged to 1.1585, leading to a firmer tone for the Euro against the US Dollar.

This comes after the pair dipped to 1.1524 but then rose during the NY session, reaching its high of 1.1585.

While UOB expects EUR/USD to extend gains towards 1.1590, they note that resistance at 1.1610 is likely to hold, and a break above this level seems unlikely.

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