EUR/USD: Downward tendency persists within a wide range – UOB
EUR/USD Faces Renewed Downward Pressure
According to UOB economists Quek Ser Leang Lee and Sue Ann, the EUR/USD currency pair has lost its recent upward momentum, retreating to 1.1554 as selling pressure intensified. In the short term, they anticipate the pair may slip further toward 1.1530, while the key support at 1.1480 is expected to hold. Looking ahead over the next one to three weeks, they foresee the euro trading within a range of 1.1480 to 1.1640, with a medium-term possibility of a move down to 1.1390.
Short-Term Outlook: Euro Remains Under Pressure
24-Hour Perspective: Downward momentum has grown, though not dramatically. The euro could continue to weaken, potentially reaching 1.1530 before any rebound occurs. The main support at 1.1480 is likely to remain unchallenged for now. Resistance is seen at 1.1580 and 1.1600.
Medium-Term Expectations: Range-Bound Movement
1-3 Weeks View: After dipping to 1.1554, the euro has not yet broken the crucial 1.1540 support. Momentum has largely dissipated, suggesting that the currency is entering a period of sideways trading. For now, the expected range is between 1.1480 and 1.1640.
Long-Term Forecast: Potential for Further Decline
1-3 Months View: Signs of a reversal are emerging, indicating that EUR/USD could fall below the 55-week EMA, currently at 1.1500, and possibly test the 1.1390 level. (Analysis as of 06 Mar 2026, with EUR/USD at 1.1610)
(This report was generated with the assistance of artificial intelligence and subsequently reviewed by an editor.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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