EUR/USD: A double top bearish reversal? – OCBC

Euro (EUR) extended its move lower over the past few sessions as geopolitical escalation unnerved sentiments. Pair was last at 1.1450 levels, OCBC's FX analysts Frances Cheung and Christopher Wong note.

Potential double top pattern has formed

"Bullish momentum shows signs of fading while RSI fell further. Potential double top pattern formed – typically associated with bearish reversal. Immediate support at 1.1420 (21 DMA), 1.1360 (50 DMA) and 1.1280 (23.6% fibo retracement of 2025 low to high)."

"We do not rule out a flush out of stagnant longs as markets re-assess risks. Resistance at 1.1570, 1.1630 (recent high). We remain constructive on the outlook but also respect the near-term retracement momentum."

Jun 19, 2025

EUR/USD: Can edge lower and potentially test the 1.1440 level – UOB Group

There has been a slight increase in downward momentum; Euro (EUR) could edge lower and potentially test the 1.1440 level. EUR is likely to trade in a range for now, probably between 1.1400 and 1.1570, UOB Group's FX analysts Quek Ser Leang and Peter Chia note.

USD/CAD holds gains above 1.3700 due to escalating Israel-Iran conflict

USD/CAD continues to gain ground for the third consecutive day, trading around 1.3710 during the European hours on Thursday. The pair gains ground as the US Dollar (USD) draws upward support from increased safe-haven demand, driven by escalating geopolitical tensions in the Middle East.