EUR/USD (UOB) : The rebound of the Euro seems to be incomplete and could well continue today

UOB believes that a continuation of the rebound of EUR/USD on the Forex is still possible today.

“EUR/USD is climbing towards a peak of 1.1763 on Friday. The rebound seems to be incomplete and a move above the top 1.1776 would not be surprising. But based on the current momentum, a sustained movement above the major threshold of 1.1800 is unlikely, at least for today.

The support comes at 1.1715 but only a movement under 1.1685 would indicate that the upward pressures have eased. “

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