Euro: Further Upside Toward 1.1725 Against USD – UOB

EUR/USD is trading around 1.16933 after holding recent gains, maintaining a firm bias. UOB analyst Ho Kee Liang noted that the pair has found support at the 1.1685 level, indicating potential for further upside.

**Short-term target seen at 1.1725**

The bank believes the euro's prior rally still has room to extend, with the upside target pointing to 1.1725. However, intraday movement may be limited, with expectations for trading within a range of 1.1655 to 1.1715. On the support side, levels have strengthened to 1.1635 and 1.1600.

**Upside bias maintained after consolidation**

Looking at earlier price action, the euro entered a consolidation phase after a sharp rally. According to UOB's previous view, if the pair can effectively break and hold above key resistance, it would open space for a move toward higher levels. Current price holding above the support zone indicates the short-term upside bias remains intact, with the market watching whether it can advance toward the 1.1725 target.