0731 GMT - EUR/USD could sustain its upward bias on improving upward momentum, based on the daily chart, says Quek Ser Leang of UOB's Global Economics & Markets Research. Its daily moving average convergence divergence indicator is rising, suggesting improving upward momentum, though it is still in negative territory for now, the markets strategist says. EUR/USD's current upward bias will probably stay intact as long as EUR/USD holds above the 55-day exponential moving average, the strategist says in a research report. Meanwhile, it seems premature to expect the currency pair to retest this year's high of 1.1573, the strategist adds. EUR/USD is 0.1% lower at 1.1321. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 22, 2025 03:31 ET (07:31 GMT)
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