EUR/USD Rally Predicted by UOB Group Analysts
April 11, 2025
The EUR/USD currency pair is poised for continued growth, as highlighted by UOB Group’s recent analysis. Analysts Quek Ser Leang and Peter Chia have identified crucial resistance levels and offered insights into market movements that could influence this trend in the upcoming days.
Key Levels to Watch
According to UOB Group, a breakout above 1.1275 could signal a further increase in the Euro’s value against the US Dollar. The analysts have specified that traders should keep an eye on key levels at 1.1350 and 1.1400 as indicators of the Euro’s bullish trajectory. In a longer-term perspective, they see potential for the Euro to rise even further, with resistance levels at 1.1400 and 1.1450 being of particular significance.
Recent Market Movements
In a report summarizing recent market activity, UOB Group noted a remarkable shift in the Euro’s momentum. The pair managed to surge by 2.25% on one day, marking the largest single-day gain since 2015. This rapid rise indicates a significant bullish sentiment among traders, which could indicate that the Euro is ready for further upward movement.
During its climb, the Euro peaked at 1.1241, which added to the confidence among traders that a breach of the 2023 high at 1.1275 may soon occur. Analysts indicated that this impulsive rally shows no signs of slowing, reinforcing the notion of a potential breakout.
Short-Term Outlook
In the immediate term, traders should be aware of possible short-term pullbacks. The current support level has now shifted to 1.1070 from the previous strong support at 1.0850, suggesting that any dips in the Euro’s value might stabilize above this new benchmark. Minor support levels have also been identified at 1.1200 and 1.1150, providing further reassurance for traders looking to capitalize on any downward movements.
Conclusion
With the Euro appearing robust against the US Dollar, and with key levels to watch closely, traders may want to prepare for a potential rally. UOB Group’s insights underscore the importance of the current market conditions and resistance levels. As the forex market continues to evolve, keeping abreast of these vital indicators will be crucial for those involved in trading EUR/USD.
For any investors or traders working in the forex market, it’s important to stay informed and make well-researched decisions based on the latest market data and trends.
Share this article:
