EUR/USD Downward Bias Persists
NEWS | 08/19/2025 10:13:28 GMT | By FXStreet Insights Team
The Euro (EUR) is expected to trade with a mild downward bias in the near term, according to analysts Quek Ser Leang and Peter Chia of UOB Group. While weakness is anticipated, any decline is seen as unlikely to threaten major support at 1.1630. In the broader view, the outlook remains mixed, and the pair is projected to stay confined within a 1.1630–1.1755 trading range for now.
Last Friday, EUR staged a strong rebound, peaking at 1.1715. However, on Monday the pair reversed course sharply, sliding to 1.1655 before closing softer at 1.1660 (-0.32%). UOB analysts note that downward momentum has increased modestly, suggesting the Euro may remain under pressure in today’s session. Still, they emphasize that major support at 1.1630 is unlikely to come under threat, with minor support located at 1.1650. On the topside, immediate resistance is identified at 1.1685, followed by a stronger cap at 1.1700.
The broader market picture for EUR/USD remains indecisive. As highlighted in UOB’s earlier commentary (18 Aug, spot at 1.1705), the Euro is likely to remain range-bound between 1.1630 and 1.1755 in the short-to-medium term. This suggests traders should be prepared for choppy, two-way price action without a clear directional breakout in the immediate future.