The EUR/USD currency pair is currently trading within a narrow range of 1.1695 to 1.1750, showing signs of a range-trading phase. Analysts at UOB Group, Quek Ser Leang and Peter Chia, observe that while the short-term outlook appears contained, the longer-term bias for the euro remains bearish. A critical support level to watch is 1.1680; a close below this threshold could pave the way for a decline toward 1.1650.
Market dynamics suggest that traders should be cautious as fluctuations within this range could signal indecision among market participants. With the euro facing downward pressure against the USD, the potential for further losses looms if bearish sentiment continues. The implications of these movements could affect broader market trends, especially if momentum builds towards the lower end of the established range.
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Data Source: FX Killer Analysis Team Updated: 2026-01-06 09:51
Disclaimer: This article is for reference only and does not constitute investment advice. Forex trading involves risks; please make decisions carefully.