EUR/USD: Support level 1.1680 remains resilient – UOB Group Analysis

airdrop_huntress · 2026-01-19T14:23:32+00:00

The euro faces short-term downside pressure, with the technical support at 1.1680 still playing an important role. Although there may be further short-term declines, as long as key supports are not broken, the market will maintain some resilience and may face rebound opportunities. The overall trend still leans towards downside.

airdrop_huntress

2026-01-19 14:23:32

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The euro faces a continued downward trend, but technical support is playing a role. UOB Group’s foreign exchange analysis team Quek Ser Leang and Peter Chia pointed out that although further downside may occur in the short term, the key level of 1.1680 will still serve as the main line of defense.

Mid-term Outlook: Downward Trend Continues to Key Support

Looking ahead to the next 1 to 3 weeks, the technical outlook for the euro shows some vulnerability. After reaching a high of 1.1807 at the end of last month, the subsequent correction has gained momentum but has not yet reached a level sufficient to confirm a long-term trend reversal. However, traders should note that the overall market tendency still points downward toward 1.1680.

Once the euro breaks below this key support and stabilizes below it, it could trigger a deeper decline, threatening the extension support at 1.1650. Meanwhile, the level of 1.1775 above is regarded as a “strong resistance.” As long as this level is not broken, mild downward pressure is expected to persist.

24-Hour Technical Trend: Limited Short-term Volatility

In last Friday’s trading, the euro fluctuated within the range of 1.1713 to 1.1764, ultimately closing at 1.1719, a decline of 0.22%. In the short term, downward momentum may strengthen again, but based on the current technical structure, any decline is unlikely to directly threaten the main support at 1.1680.

Recent resistance levels are at 1.1735 and 1.1750, which may form temporary rebound opportunities before the euro further declines. Overall, the importance of 1.1680 as a fundamental support cannot be ignored.

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