The euro reached $1.1263 against the dollar on Nov. 4, exceeding a key level in United Overseas Bank’s (UOB) near-term view while leaving its higher target dependent on a close above that mark.
FXStreet reported that UOB analysts Quek Ser Leang and Lee Sue Ann viewed $1.1250 as a test for the pair. A move toward $1.1280 over their one-to-three-week horizon would depend on EUR/USD finishing a session above $1.1250. The Nov. 4 intraday high shows the pair traded above that threshold, but does not establish whether the closing condition was met.
In UOB commentary reproduced by FXStreet, a break below $1.1190 would undercut the analysts’ near-term momentum view; their broader outlook put stronger support at $1.1160. The account said the euro had retreated to $1.1136 after an earlier rise before gaining momentum in early Asian trading on Nov. 4.
Separately, the European Central Bank’s reference rate was $1.1179 per euro on Nov. 3, down from $1.1216 on Nov. 2. The daily benchmark is distinct from live market quotes and does not measure Wednesday’s intraday high.
In earlier comments carried by FXStreet, Chris Turner, ING Global Head of Markets and Regional Head of Research for UK & CEE, identified $1.1250 to $1.1270 as a possible near-term cap. EconoTimes previously covered Turner’s euro outlook. The next threshold in UOB’s reported outlook is a session close above $1.1250.
