EUR/USD (UOB) : The Euro remains fragile and may still have to move back to the Forex in the very short term

UOB think that EUR/USD could decline further on the Forex in the very short term.

«EUR/USD has fallen to 1.1697 yesterday. While the decline seems stretched, there is room for a further fall towards the major support of 1.1660.

At this stage, the critical level should offer a strong support, but a break clear could trigger an acceleration to 1.1615.

The increase, stabilization will only be considered as above the 1.1780 (minor strength at 1.1740). «

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